The existing agreement with Janssen Pharmaceutica already covers the EU, Eastern Europe, Russia, the Middle-East and Africa. All the commercial and contractual conditions remain in effect. The product will be distributed by Janssen-Ortho for the Canadian market. Akela Pharma will receive a signing fee, development and regulatory milestones as well as commercial sales milestones that are in line with current commercial expectations regarding the Canadian market as compared with the EU market.
Halvor Jaeger, CEO of Akela Pharma, said: “The addition of the Canadian market to our existing agreement with Janssen Pharmaceutica represents yet another solid validation of the superior therapeutic profile of our lead product, Fentanyl Taifun.”