LifeCycle Pharma entered into three strategic collaboration agreements, with Sandoz, Merck Generics, and H. Lundbeck. “These new partnerships provide a strong validation of our innovative MeltDose® technology,” remarks Flemming Ornskov, M.D., president and CEO of LifeCycle Pharma, www.lcpharma.com “which improves the bioavailability of drugs with low water solubility. They also validate our business model; a model based on identifying and developing products, which represent significant business opportunities for big pharmaceutical companies. We are now also a significant step closer to the first commercial launch of a product derived from LifeCycle Pharma’s R&D pipeline,” says Dr. Ornskov.
Sandoz and LifeCycle Pharma entered into an exclusive development and commercialization agreement regarding the U.S. market with respect to an undisclosed fenofibrate product developed by the latter. LifeCycle Pharma will receive milestone payments and a double-digit royalty rate of future sales.
The exclusive development and commercialization agreement with Merck Generics was regarding the European markets also with respect to an undisclosed LifeCycle Pharma fenofibrate product. Merck Generics will conduct the future development and commercialization of the fenofibrate product and will be responsible for all costs associated with these activities. LifeCycle Pharma will receive milestone payments in addition to a double-digit royalty rate of future sales.
According to the last agreement, Lundbeck has been granted rights to LifeCycle Pharma’s MeltDose technology in connection with Lundbeck’s further development of two internal preclinical CNS-related projects. LifeCycle Pharma will receive milestone payments related to results in the future developments of these projects.