Hulskof schreef op 8 februari 2021 14:19:
Eton Pharmaceuticals Announces Sale of Neurology Portfolio
DEER PARK, Ill., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Eton Pharmaceuticals, Inc. (Nasdaq: ETON), a specialty pharmaceutical company focused on developing and commercializing innovative treatments for rare pediatric diseases, today announced that it has sold its neurology portfolio to Azurity Pharmaceuticals. The portfolio includes Eton’s lamotrigine (ET-105), zonisamide (ET-104), and topiramate (ET-101) product candidates, which have all been submitted to the U.S. Food and Drug Administration as new drug applications and are currently under review by the agency.
“This transaction was a very compelling opportunity for Eton. It allows us to focus on growing our orphan drug business, provides us with an attractive return on our investment in the products, increases our profitability, and brings us into partnership with an industry leader in innovative dosage forms,” said Sean Brynjelsen, CEO of Eton Pharmaceuticals. “Azurity has an established track record with customized formulations that satisfy patients’ unmet needs. With this transaction, we will no longer need to invest in a neurology sales force, which will significantly increase our profitability in 2021 and 2022.”
Azurity will assume control of all three products and will be responsible for commercialization following regulatory approval. Eton will support Azurity in the transition and through regulatory approval. Under the terms of the transaction, Eton will receive up to $45 million in payments from Azurity under the following schedule:
$15 million at closing, of which $5.5 million has been held in escrow until certain product-related milestones are achieved.
$15 million upon achievement of approval and product launch milestones
$15 million upon achievement of commercial sales milestones
In addition, Eton will receive a single digit percentage royalty on Azurity’s net sales of the products. Eton will remain responsible for certain licensing fee obligations owed to its development partners and Azurity will assume royalty or profit share obligations owed to development partners. Eton’s proceeds from the transaction will be used for business development activities targeting additional late-stage orphan drug products.
Geen idee of dit nu juist gunstig is of niet...
Weinig opbrengsten en ook nog gerelateerd aan FDA-goedkeuring.
Maar naar kosten toe (sales team) niet verkeerd.