Medigene AG has signed an exclusive global licence agreement with the company Dr Falk Pharma GmbH (Falk Pharma) for the development and commercialisation of its drug candidate RhuDex for indications in hepatology and gastroenterology.
Falk Pharma will assume responsibility and all costs relating to the clinical development and marketing of RhuDex in these therapeutic areas. Medigene will receive an upfront payment and future milestone payments from Falk Pharma, plus double-digit RhuDex royalties. Falk Pharma will initially concentrate on development in primary biliary cirrhosis (PBC). Medigene retains the rights for RhuDex in the indication areas rheumatoid arthritis, psoriasis and other autoimmune diseases.
Dr Frank Mathias, Chief Executive Officer, Medigene AG explained, “In Falk Pharma, we have found an ideal partner for RhuDex. Falk Pharma has already successfully developed and launched several drugs to treat diseases of the liver and biliary tract. After the transforming acquisition of Trianta Immunotherapies, this partnership for RhuDex represents another major step in the implementation of our strategy for sustainable growth.”
Ursula Falk, Managing Director, Dr. Falk Pharma commented, “RhuDex possesses an innovative mode of action and complements our existing development and commercial portfolio. We will use our years of expertise in this field to further develop this attractive product candidate to a successful drug.”
Peter Llewellyn-Davies, Chief Financial Officer, Medigene commented, “With this agreement we continue to implement our licensing plans for the advanced product candidates. Yet we will retain the major part of our rights to RhuDex, e.g. for the treatment of rheumatoid arthritis or psoriasis. This license agreement facilitates the further clinical development of RhuDex and also contributes to the financing of our immuno therapy programmes recently acquired which will open up new partnering and financing opportunities.”
Confidentiality was agreed on financial details of the deal. Medigene will provide the company’s financial and operational guidance with the annual financial and operations report and conference call on 27 March 2014.
EP News Bureau – Mumbai
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