ImmuPharma and Avion Pharmaceuticals sign exclusive licence
[caption id="attachment_9277" align="aligncenter" width="747"] Press Release[/caption]
ImmuPharma and Avion Pharmaceuticals sign exclusive licence and development agreement and trademark agreement for Lupuzor? with Avion to fund new international Phase III trial and commercialise in the US
ImmuPharma PLC (LSE:IMM), a specialist drug discovery and development company, announces a licence and development agreement with Avion Pharmaceuticals LLC, for the exclusive rights to Lupuzor? in North America (United States). LupuzorTM is ImmuPharma?s lead compound, a peptide therapeutic and a first-in class autophagy immunomodulator for systemic lupus erythematosus (SLE or lupus) a potentially life-threatening auto-immune disease. In addition, Lupuzor? also has the potential for treating other auto-immune diseases other than lupus. A trademark licence agreement also has been signed to allow Avion the use of various trademarks in connection with development, manufacture and commercialisation of products under the Licence and Development Agreement.
A summary of key highlights to both Agreements
- Avion will commercialise Lupuzor? exclusively for the US.
- Avion will commercialise Lupuzor? exclusively for the US.
- ImmuPharma retains all the rights to commercialise Lupuzor?, outside of the US, either through distribution partnerships or directly by ImmuPharma.
- A new optimised international Phase III trial in lupus patients (which is expected to include patients in the US, Europe and elsewhere), is targeted to commence in 2020, following agreement of the trial design between Avion, ImmuPharma and the US Food & Drug Administration (?FDA?).
- Avion will fund the full expected costs of the new Phase III trial up to $25 million.? ImmuPharma will receive milestone payments of up to $70 million. A $5 million milestone payment will be paid on regulatory approval of Lupuzor? in lupus, and $65 million will be based on achievement of overall sales targets.
- ImmuPharma will also receive $5 million for each additional approval, other than lupus, as Avion also has the rights, for the US, to explore further opportunities within Lupuzor??s peptide platform for other auto-immune indications outside of lupus.
- ImmuPharma will receive from Avion tiered double-digit royalties up to 17 percent, according to pre-specified annual US sales targets.
- Avion has the right to use relevant trademarks for the development, manufacture and commercialisation of products.