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GEN News Highlights : May 31, 2012

Stiefel Pays Welichem C$35M for Topical Agent for Psoriasis, Atopic Dermatitis

Arrangement doesn’t initially cover China, Taiwan, Macao, and Hong Kong but can be extended to these regions.

Stiefel is taking over Welichem Biotech’s anti-inflammatory agent WBI-1001 for C$35 million. The exclusive development and commercialization deal covers territories outside of China, Taiwan, Macao, and Hong Kong.

Welichem is eligible to payments upon achievement of certain clinical development milestones and upon commercialization in certain countries. Additionally, Stiefel has also received a conditional right to acquire further exclusive rights to develop and commercialize WBI-1001 in China, Taiwan, Macao, and Hong Kong, collectively. Upon satisfaction of certain conditions, Welichem will receive an additional payment of C$15 million.

WBI-1001 is currently in Phase II development for the treatment of psoriasis and atopic dermatitis. It is a nonsteroidal, topical anti-inflammatory NCE that has demonstrated efficacy and safety for the treatment of mild-to-moderate psoriasis and moderate-to-severe atopic dermatitis for up to 12 weeks as a single therapy.