According to the agreement, Desitin will be licensee for MT 400 in the licensed territory and will be in charge of the remaining clinical development, manufacturing and commercialization.
Poze executive vice president and chief commercial officer Liz Cermak said the company has reached an agreement with Desitin to develop and commercialize MT 400 in the EU, Switzerland and Norway.
"They have a strong European presence and history of success in marketing CNS products," Cermak added.
Pozen will receive initial upfront payment followed by milestone payments related to the development and launch of MT 400 in certain specified countries, from Desitin.
The pre-commercialization payments will total $3m, $0.5m of which is due on signing, the companies said.
Pozen will also receive a double digit royalty on net sales of MT 400 that increases based on annual sales volume.