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news.EffRx, a drug delivery company, and Switzerland-based pharmaceutical company Nycomed have signed an expansion of territories in their licensing deal for EffRx's drug EX101, for the treatment of osteoporosis.
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A previous licensing agreement covering Europe, Russia, the Middle East, North Africa, Latin America and Canada was signed in January 2009.
Under the terms of the agreement, EffRx will receive from Nycomed additional upfront and milestone payments of up to $15 million. This brings the total for all territories to $74 million in upfront and milestone payments. EffRx will in addition be granted double-digit royalties on future sales of EX101. Nycomed will also sponsor the necessary additional studies required for marketing approval in its territories. The licensing deal now covers the whole world except the US, Japan, South African countries and a few other minor markets.
EX101 is currently in late stage clinical trials. Final approval and launch in the US is expected in 2010 while submission for European approval is expected by the end of 2009.
Christer Rosen, chairman and CEO of EffRx, said: “We are really pleased with this extended collaboration with Nycomed. EffRx has received strong global demand for EX101, especially in several emerging markets, and we believe that Nycomed is the right company to maximize the penetration in these markets. Our focus will now be to support Nycomed in any area we can be of assistance and at the same time find the right partner for EX101 in the US and Japan.”