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news.Vernalis and Tris Pharma have signed an exclusive licensing agreement to develop and commercialize multiple novel products focused on the US prescription cough/cold market.
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As per the agreement, Tris will use its proprietary technology and will develop up to six new drug applications (NDAs), on behalf of Vernalis.
Tris will undertake and fund the development work and Vernalis will pay development milestones to Tris on each product as they successfully progress through clinical development.
Vernalis will acquire and then commercialize these products on approval in the US and pay a sales-based royalty to Tris.
Vernalis CEO Ian Garland said the transaction is fundamental in transitioning Vernalis into a diversified and self-sustaining pharmaceutical company.