Date: 2014-09-03
Type of information: Licensing agreement
Compound: bremelanotide
Company: Gedeon Richter (Hungary) Palatin Technologies (USA - NJ)
Therapeutic area: Women health
Type agreement:
Action mechanism: Bremelanotide, which is a melanocortin agonist (a compound which binds to a cell receptor and triggers a response) drug candidate, is a synthetic peptide analog of the naturally occurring hormone alpha-MSH (melanocyte-stimulating hormone).
Disease: female sexual dysfunction (FSD)
Details: * On September 3, 2014, Palatin Technologies and Gedeon Richter announced that they have entered into a collaboration and license agreement, to co-develop and commercialize bremelanotide for female sexual dysfunction (FSD) indications in the European Union, other European countries and additional selected countries. Palatin and Richter will each contribute to the European co-development activities for obtaining regulatory approval in Europe. Palatin anticipates that its part of the European co-development activities will be cash neutral through the European regulatory filing stage. All sales, marketing, and commercial activities and associated costs in the licensed territory will be the sole responsibility of Richter.
Financial terms: Under the terms of the agreement, Palatin will receive total upfront payments of €7.5 million (US$9.9 million). Palatin will additionally receive €2.5 million (US$3.3 million) upon initiation of its phase 3 clinical trial program in the United States. Palatin is also eligible to receive €20 million (US$26.4 million) regulatory related milestones. Palatin has the potential to receive up to €60 million (US$79.2 million) potential sales related milestones and low double-digit royalties on net sales in the licensed territory.
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