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news.Recordati and Nymox Pharmaceutical have signed European licensing agreement for the development and commercialisation of NX-1207, Nymox's Phase III investigational drug currently in clinical development in the US for the treatment of benign prostatic hyperplasia (BPH).
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Under the terms of the agreement, Recordati receives exclusive rights to develop and subsequently market and sell NX-1207 in Europe including Russia and the CIS, the Middle East, the Maghreb area of North Africa and South Africa.
The licensing agreement covers the use of NX-1207 for the treatment of BPH as the initial indication for development and commercialization.
Recordati will make an upfront payment to Nymox of EURO 10m, approval and sales milestones payments; and tiered supply and royalty payments of a minimum of 26% to increase progressively up to 40% of total net sales in the case specific contractual conditions are achieved.
Recordati chairman and CEO Giovanni Recordati said that they believe the inclusion of NX-1207 in their development pipeline to be very important and in line with their commitment to increase the availability of new effective treatments for urological disorders.