Date: 2016-09-21
Type of information: Licensing agreement
Compound: Rizaport® (formerly RHB-103 - oral thin film formulation of rizatriptan)
Company: Redhill Biopharma (Israel) IntelGenx (Canada) Pharmatronic Co (Republic of Korea)
Therapeutic area: CNS diseases
Type agreement: licensing commercialisation
Action mechanism: 5-HT1 receptor agonist. Rizaport® is a proprietary oral thin film formulation of rizatriptan benzoate, a 5-HT1 receptor agonist and the active drug in Merck & Co's Maxalt®. Marketing applications for Rizaport® have been filed both in the U.S. (NDA filed in March 2013) and in Europe (MAA filed in October 2014). Rizaport® is based on IntelGenx' proprietary "VersaFilm™" technology. Rizaport® dissolves rapidly and releases its active ingredient in the mouth, leading to an efficient absorption of the drug through the gastro intestinal tract. The administration method of the Rizaport® oral thin film does not require the patient to swallow a pill or consume water and presents a potentially attractive therapeutic alternative for many migraine patients, including those who suffer from migraine-related nausea estimated to be approximately 80% of the total migraine patient population.
Disease: acute migraines
Details: * On September 21, 2016, RedHill Biopharma, together with IntelGenx, a Canadian drug delivery company focused on oral drug delivery, announced that they have entered into a binding term sheet with Pharmatronic Co. granting Pharmatronic Co. the exclusive license to commercialize Rizaport® in the Republic of Korea (South Korea). Subject to satisfaction of remaining conditions, the parties will endeavor to enter into a definitive agreement within 60 days of the execution of the term sheet.
Pursuant to the signing of a definitive agreement, RedHill will grant Pharmatronic Co. the exclusive rights to register and commercialize Rizaport® in South Korea. Under the term sheet, RedHill and IntelGenx are to receive an upfront payment and will be eligible to receive additional milestone payments upon achievement of certain predefined regulatory and commercial targets, as well as tiered royalties. . The initial term of the definitive agreement is expected to be ten years from the date of first commercial sale with an automatic renewal of an additional two years. Commercial launch in South Korea is estimated to take place in the first quarter of 2019.
Financial terms: Financial terms of the term sheet were not disclosed
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