Elevar Therapeutics Acquires Worldwide Development and Commercialization Rights for Oasmia's Apealea
Shots:
- Elevar to receive $20M up front- ~$678M as milestones based on the company’s achievement regarding the product along with royalties on sales of Apealea globally excluding Nordics- Russia- and certain countries in Eastern Europe
- The agreement allows Elevar the right to sub-license Apealea to other partners in the EU. Elevar will be responsible for all regulatory activities in its territory- including the submission of the approval application to the FDA in the US
- Additionally- Elevar and Oasmia developed a joint development committee for Apealea to expand its approvals in Ovarian cancer globally while exploring its news indications. Oasmia will remain in sole control over and will continue to develop- its proprietary technology platform XR17- for use with active pharmaceutical ingredients other than paclitaxel
Source 1- Source 2 to read full press release/ article | Ref: Oasmia- Elevar | Image: Oasmia
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