TesoRx Pharma licensed select international rights to TSX-002, which the company says is the first unmodified oral-Testosterone replacement therapy, to Aspen Global, a subsidiary of Aspen Pharmacare Holdings.
Aspen Group companies plan to invest a total of $15 million in TesoRx, which will include payment of upfront fees. Additional payments of $80 million will be made to TesoRx based upon regulatory and commercial milestones, excluding certain royalty payments. Aspen will also be responsible for developing and commercializing TSX-002 in the territories it is licensing. TesoRx has retained the full development and commercial rights in the U.S., EU, Japan, China, and the Middle East.
TSX-002 is a formulation of native testosterone that is orally administered. TesoRx said it has tested TSX-002 in more than 150 patients and it is poised to begin trials next year. If approved, TSX-002 could be the first product to orally deliver a native, bio-identical form of the hormone.
According to Will Robberts, president and CFO of TesoRx, the company’s primary intent is to deliver a safe oral-T treatment in the burgeoning testosterone replacement market.
“The transaction adds considerable secondary synergies with the Group's manufacturing capabilities as a key global supplier of testosterone APIs,” said Stephen Saad, Aspen Group CEO. “Aspen's investment in TesoRx will assist in the work being undertaken to bring this product to market and in investing behind TesoRx' pipeline and technology that has the potential to be used for a wide range of different applications.”