The deal grants Merz an exclusive North American license, with certain additional international rights, for the development and commercialization of BBI-3000, to treat skin conditions known to be responsive to retinoid agents, such as acne and psoriasis.
As part of the deal, Merz will assume the full cost and responsibility for future development and commercialization of BBI-3000, initially for North America.
In this transaction, Triad Healthcare Partners, a division of Triad Securities, served as financial adviser to Brickell Biotech.
Brickell vice president Andy Sklawer said the company is happy to license its compound to a leading specialty healthcare company like Merz, which is the US leader in topical antifungal treatments and has a strong reputation in the dermatology space for providing patients and physicians with excellent, effective medical products.
"This deal is validation of Brickell Biotech’s efficient drug development model and our ability to identify and develop novel compounds in the medical dermatology space," Sklawer said.
In preclinical trials carried out by Brickell, BBI-3000 showed activity that differentiated it from the existing topical retinoids available on the market.