Date: 2013-02-02
Type of information: R&D agreement
Compound: oral treatment for inflammatory skin diseases
Company: Leo Pharma (Denmark) 4SC (Germany)
Therapeutic area: Autoimmune diseases - Dermatological diseases
Type agreement: R&D
licensing
Action mechanism:
Disease: skin diseases, psoriasis
Details: LEO Pharma and 4SC AG \'s fully-owned research subsidiary 4SC Discovery GmbH have entered into an exclusive research and license agreement with the primary aim of jointly researching, developing and commercialising an oral treatment for inflammatory skin diseases such as psoriasis. The collaboration has the potential to result in a novel and convenient breakthrough therapy for chronic skin conditions. The innovative compound, currently in the early development state, has already been proven in preclinical models to significantly reduce if not entirely eradicate symptoms of psoriasis. The deal marks the latest milestone in LEO Pharma\'s growth strategy, which involves actively seeking new opportunities to expand the company pipeline for the benefit of patients.
Financial terms: Under the agreement, LEO Pharma will issue an upfront payment of € 1million to 4SC Discovery and additional funding for research and development. LEO Pharma will receive an exclusive option to license the worldwide marketing and commercialisation rights of the compound for use in inflammatory skin diseases, including psoriasis and other therapeutic areas. Upon LEO Pharma exercising the option, 4SC Discovery will be eligible for a milestone payment of up to € 3 million and further payments upon achieving specific development milestones of up to € 92 million as well as up to double-digit royalties.
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