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Pharma Tech Outlook | Monday, July 12, 2021
Hyloris Pharmaceuticals announced it has successfully renegotiated and unwound its previous license agreements with the Alter Pharma Group.
FREMONT, CA: Hyloris Pharmaceuticals SA, a specialty biopharma firm dedicated to providing novel treatments to provide additional value to the neglected patient populations, recently announced it has successfully renegotiated and unwound its previous license agreements with the Alter Pharma Group. Hyloris will pay the Alter Pharma Group a total lump sum of $5.25 million, plus a prospective earn-out of $0.5 million, releasing the company from any further financial commitments to the Alter Pharma Group.
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The following license agreements have been altered and unwound by Hyloris Pharmaceuticals and the Alter Pharma Group:
The patent and know-how license agreement for Maxigesic IV has been changed to eliminate all previous and future royalty obligations to the Alter Pharma Group regarding Maxigesic IV. AFT Pharmaceuticals, a Hyloris partner, is commercializing Maxigesic IV (a unique combination of 1000 mg paracetamol and 300 mg ibuprofen solution for infusion), a revolutionary, patented non-opioid pain therapy. It has been licensed in over 100 countries and is being marketed in three.
The development agreements related to HY-075 and HY-038: HY-075, a unique, oral liquid formulation of a regularly used medicine to treat coronary heart disease, and HY-038, a prefilled syringe of a widely used product to address a specific deficit, are both developed solely by Hyloris. Hyloris will continue to shoulder all expenses associated with developing these product candidates but will no longer be required to divide future profits with the Alter Pharma Group.
The license agreement with Fusidic Acid Cream in Canada: Hyloris will retain all rights to Fusidic Acid Cream in Canada but will receive a larger percentage of net profit because the Alter Pharma Group's co-development partner will pass the margin to Hyloris. Fucidin cream 2 percent, a topical medication containing fusidic acid used to treat primary and secondary bacterial skin infections, presently has no generic alternative in Canada. Fusidic Acid Cream, a high-barrier generics product from Hyloris, has recently begun clinical trials. Hyloris plans to look for a commercial partner in Canada as the candidate product approaches submission.
Stijn Van Rompay, Chief Executive Officer of Hyloris, commented: "This is a major achievement for Company as we will no longer have any further future financial obligations towards the Alter Pharma Group, and moreover, it resolves any potential risks in relation to conflicts of interest and related party transactions. It is also financially attractive and enables us to fully focus on executing our business strategy. We look forward to further progressing our innovative pipeline and to bringing our product candidates to underserved patient populations, with the goal to change and improve therapy outcomes and add value to all stakeholders of the healthcare system."
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