Cosmo Pharmaceuticals N.V. / Key word(s): Agreement/Alliance
26-Jul-2021 / 06:01 GMT/BST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53 LR
Dublin, Ireland – 26 July 2021: Cosmo Pharmaceuticals N.V. (SIX: COPN, XETRA: C43) announced today that Cassiopea SpA (SIX: SKIN), a company in which it holds 46.56% of the ordinary shares, has signed license and supply agreements with Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, ‘Sun Pharma’) for WinleviTM (clascoterone cream 1%) for the US and Canada.
Winlevi(R) is approved by the United States Food & Drug Administration (FDA) as a novel drug for the topical treatment of acne in patients 12 years and older.
Under the terms of the agreements, Sun Pharma will have the exclusive right to commercialize Winlevi(R) in the United States and Canada and Cassiopea will be the exclusive supplier of the product. Cassiopea will receive an upfront payment of US$ 45 million, potential commercial milestones totalling up to US$ 190 million and customary double-digit royalties. The agreements will close upon the expiration of the HSR waiting period.
Winlevi(R) is expected to be available in the US in Q4 2021.
Alessandro Della Chà, CEO of Cosmo, said: ‘Cassiopea has explored many options over the past several months, and we are very pleased that it has finally partnered with Sun Pharma to make WinleviTM widely available in the US and Canada. This transaction significantly transforms Cassiopea, which will be expecting substantial revenues for the foreseeable future and will be in a position to progress the development of its pipeline without the need to raise additional equity.’
About Cosmo Pharmaceuticals
Cosmo is a specialty pharmaceutical company focused on developing and commercialising products to treat selected gastrointestinal disorders and improve endoscopy quality measures through aiding the detection of colonic lesions. Cosmo has also developed medical devices for endoscopy and has a partnership with Medtronic for the global distribution of GI Genius(TM) its artificial intelligence device that uses artificial intelligence to help detect potential signs of colon cancer. Cosmo has licensed Aemcolo(R) to Red Hill Biopharma Ltd. for the US and has licensed Relafalk(R) to Dr. Falk Gmbh for the EU and other countries. For additional information on Cosmo and its products please visit the Company’s website: www.cosmopharma.com
Niall Donnelly, CFO & Head of Investor Relations
End of ad hoc announcement
|Company:||Cosmo Pharmaceuticals N.V.|
|Riverside 2, Sir John Rogerson’s|
|Dublin 2 Dublin|
|Phone:||+ 353 1 817 0370|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1221480|
|End of Announcement||EQS Group News Service|