Shots:

• Evoke to receive $5M revolving credit facility following FDA approval of Gimoti while Eversana will utilize its outsourced services to commercialize and distribute Gimoti in the US
• Evoke will remain responsible for legal- regulatory- and manufacturing activities and retain 80% of the profit and record sales for Gimoti to Eversana’s third-party logistics division. Evarsana to receive reimbursement of cost & % of product’s profits in the mid to high teens when Gimoti net sales outstrip its development & commercialization costs
• The term of the agreement is 5yrs. following FDA approval- after which Evoke will recapture all commercialization activities while both companies can terminate the agreement on certain events. Gimoti is a nasal spray- designed to provide relief to women with acute and recurrent diabetic gastroparesis with its anticipated PDUFA sate as 19 Jun- 2020

Click here to­ read full press release/ article | Ref: Evoke Pharma | Image: Evoke Pharma