Cosmo Pharmaceuticals Announces Cassiopea SpA’s Signing of License and Supply Agreements for Winlevi® in US and Canada
Cosmo Pharmaceuticals N.V. / Key word(s): Agreement/Alliance
Ad hoc announcement pursuant to Art. 53 LR
Dublin, Ireland - 26 July 2021: Cosmo Pharmaceuticals N.V. (SIX: COPN, XETRA: C43) announced today that Cassiopea SpA (SIX: SKIN), a company in which it holds 46.56% of the ordinary shares, has signed license and supply agreements with Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, 'Sun Pharma') for WinleviTM (clascoterone cream 1%) for the US and Canada.
Winlevi(R) is approved by the United States Food & Drug Administration (FDA) as a novel drug for the topical treatment of acne in patients 12 years and older.
Under the terms of the agreements, Sun Pharma will have the exclusive right to commercialize Winlevi(R) in the United States and Canada and Cassiopea will be the exclusive supplier of the product. Cassiopea will receive an upfront payment of US$ 45 million, potential commercial milestones totalling up to US$ 190 million and customary double-digit royalties. The agreements will close upon the expiration of the HSR waiting period.
Winlevi(R) is expected to be available in the US in Q4 2021.
Alessandro Della Chà, CEO of Cosmo, said: 'Cassiopea has explored many options over the past several months, and we are very pleased that it has finally partnered with Sun Pharma to make WinleviTM widely available in the US and Canada. This transaction significantly transforms Cassiopea, which will be expecting substantial revenues for the foreseeable future and will be in a position to progress the development of its pipeline without the need to raise additional equity.'
About Cosmo Pharmaceuticals
End of ad hoc announcement
|Company:||Cosmo Pharmaceuticals N.V.|
|Riverside 2, Sir John Rogerson's|
|Dublin 2 Dublin|
|Phone:||+ 353 1 817 0370|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1221480|
|End of Announcement||EQS Group News Service|