Recordati is paying Nymox Pharmaceuticals €10 million (about $13 million) up front for exclusive rights to develop and commercialize the latter’s Phase III-stage benign prostatic hyperplasia (BPH) drug NX-1207 in 81 countries within Europe (including Russia and the CIS), the Middle East, the Maghreb region of North Africa and South Africa.
Nymox will in addition receive approval- and sales-related milestones along with tiered supply and royalty payments starting at 26% and increasing to 40% of total net sales if specific contractual conditions are met.
Nymox is focused on the development of therapeutic and diagnostics targeting disorders that affect the ageing population. Lead product NX-1207 is currently undergoing pivotal Phase III trials in the U.S. The firm says completed Phase I and II trials have shown NX-1207 therapy improves the signs and symptoms of BPH, without the sexual, blood pressure, or other side effects associated with current treatments.
NX-1207 is administered directly into the area of the enlarged prostate by a urologist in an office setting, without the need for anesthetic, sedation, or catheterization. In open-label follow-up studies a significant proportion of men receiving a single dose of NX-1207 have reported sustained improvements in BPH symptoms, without other treatments, for five years or longer, Nymox adds.