Date: 2014-09-16
Type of information: Commercialisation agreement
Compound: PSD502 (topical spray formulation of lidocaine and prilocaine)
Company: Recordati (Italy) Plethora (UK)
Therapeutic area: Sexual disorders - Urological diseases
Type agreement:
Action mechanism: PSD502™ is an easy-to-use fast acting topical spray formulation of lidocaine and prilocaine for the treatment of premature ejaculation.
Disease: premature ejaculation
Details: * On September 16, 2014, Recordati announced that it has entered into a license agreement with Plethora Solutions Limited and Plethora Solutions Holdings, a specialty pharmaceutical company with headquarters in the UK, for the commercialization of PSD502™ in Europe, Russia, Commonwealth of Independent States (C.I.S.), Turkey and certain countries in North Africa. The license agreement shall be effective from the date upon which certain transaction documents relating to Plethora and various third parties have become wholly unconditional, whereupon the up-front payment of €5 million to Plethora will become due and payable. The final completion condition in relation to the transaction documents, being receipt of funds by the third parties from Plethora, is expected to be satisfied shortly.
PSD502™ has been approved by the EMA but the new dosage form which will be actually commercialized is currently in development and will require a variation of the approval.
Financial terms:
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