CNX Therapeutics expands European CNS portfolio with licensing agreement for Sumatriptan Alginate Film
London, Monday 13 January 2025 – CNX Therapeutics Limited (“CNX Therapeutics”), a European specialty pharmaceutical company, has announced a strategic licensing deal for Sumatriptan Alginate Film, expanding its portfolio of CNS (central nervous system) products. The agreement grants CNX Therapeutics the exclusive rights to market and sell the product across Europe, including major markets such as Germany, Spain, Italy and the UK.
Sumatriptan Alginate Film is a breakthrough treatment for people suffering with migraines. It offers a convenient alternative to traditional treatments such as tablets, nasal sprays and injections. The postage stamp-sized film works in a similar way to the nasal spray, but is instead delivered orally, providing a bioequivalent dose of Sumatriptan. This makes it especially beneficial for patients who struggle with other forms of medication.
The product, approved in August 2024 for major European markets, is set to launch under the CNX Therapeutics brand in the second half of 2025, with further expansion across Europe expected in 2026.
The agreement supports CNX Therapeutics’ mission to improve access to vital medicines while solidifying its presence across Europe. It also represents the company’s sixth major licensing deal since 2022, demonstrating its commitment to growth through strategic partnerships.
Under the terms of the agreement, Klaria will receive an up-front payment of EUR 750,000 in connection with the signing of the license agreement.
Ben Moore, Vice President of Corporate Development at CNX Therapeutics, said:
"We are excited to add Sumatriptan Alginate Film to our growing CNS portfolio. This product provides a significant advantage for patients and aligns perfectly with our strategy of expanding access to innovative treatments across Europe. Our partnership with Klaria continues to reflect our commitment to delivering high-quality medicines that improve patient outcomes."
“The entire Klaria team is incredibly proud to sign this license agreement with CNX Therapeutics”, says Klaria's Board Chairman Fredrik Hübinette. “We see CNX as a perfect partner to bring Sumatriptan Alginate Film to market and ensure it reaches those migraine sufferers who are looking for a more reliable and effective solution than tablets, nasal spray or injection. This agreement for Europe is also expected to facilitate negotiations to sign a corresponding agreement with a suitable counterparty for the US and other markets.”
This latest licensing deal spans all EU markets, United Kingdom, Norway and Switzerland with an initial focus on Germany, Spain, and Italy. CNX Therapeutics plans to leverage the product’s market potential to further its pan-European growth.
