Almirall: acquires option for Dermira dermatitis drug
(CercleFinance.com) - Spanish drugmaker Almirall has said that it has agreed to acquire an option to exclusively license rights to develop a treatment for atopic dermatitis from US-based firm Dermira.
The companies have entered into an option and license agreement by which Almirall has acquired an option to exclusively license rights to develop and commercialize lebrikizumab for the treatment of atopic dermatitis and certain other indications in Europe.
In exchange, Dermira will receive an upfront option fee of 30 million dollars.
If Almirall exercises its option to obtain the license, Dermira will receive a 50 million dollar option exercise fee and will be eligible to receive additional milestone payments, as well as double-digit royalties.
Almirall's option to obtain the license can be exercised following the results of an ongoing Phase 2b study.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The companies have entered into an option and license agreement by which Almirall has acquired an option to exclusively license rights to develop and commercialize lebrikizumab for the treatment of atopic dermatitis and certain other indications in Europe.
In exchange, Dermira will receive an upfront option fee of 30 million dollars.
If Almirall exercises its option to obtain the license, Dermira will receive a 50 million dollar option exercise fee and will be eligible to receive additional milestone payments, as well as double-digit royalties.
Almirall's option to obtain the license can be exercised following the results of an ongoing Phase 2b study.
Copyright (c) 2019 CercleFinance.com. All rights reserved.