Date: 2014-07-15
Type of information: Joint-venture agreement
Compound: BioPhotonic technology platform including a CE approved treatment for moderate to severe acne
Company: LEO Pharma (Denmark) KLOX Technologies (Canada)
Therapeutic area: Dermatological diseases
Type agreement: licensing joint-venture
Action mechanism: The non-abrasive, non-thermal CE approved acne treatment comprises a multi-LED light used in conjunction with a photoactivable converter gel. It works by targeting the underlying problems that lead to acne vulgaris, as well as stimulating collagen synthesis and healing in traumatized skin, thereby promoting healing in the epidermis and deeper in the dermis Completed within a 15-minute treatment cycle including preparation, treatment requires twice-weekly application over six weeks and in clinical trials the acne BioPhotonic system demonstrated highly statistically significant improvements in moderate to severe acne sufferers.
Disease: acne
Details: * On July 15, 2014, LEO Pharma and KLOX Technologies have entered into a worldwide license and joint venture agreement, excluding Canada, to further develop and commercialize KLOX\'s BioPhotonic technology platform in dermatology, which includes a CE approved treatment for moderate to severe acne. LEO Pharma will also make an equity investment in KLOX. The deal paves the way for LEO Pharma\'s first medical device therapy and first global market entry in acne, the most common skin disease affecting more than 150 million people worldwide. In turn, KLOX has gained global access for its game-changing acne treatment, another significant milestone, as it builds on commercial partnerships to fuel its growth and bring its proprietary and innovative treatments to market in dermatology. The global agreement, which includes all countries except Canada, also establishes the foundation for future collaboration between LEO Pharma and KLOX in developing new dermatological treatment solutions based on KLOX\'s unique and proprietary BioPhotonic platform.
Financial terms: Under the terms of the agreement, LEO Pharma will be responsible for clinical and commercial activities, including manufacturing. In addition, LEO Pharma will provide financial funding support for KLOX research and product development in dermatology. The financial terms include a significant upfront, as well as a double-digit, escalating, tiered royalty rate based on product sales.
Latest news:
