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Cancer Prevention Pharmaceuticals signs licensing deal with Mallinckrodt for North America.

M2 EQUITYBITES-August 14, 2018-Cancer Prevention Pharmaceuticals signs licensing deal with Mallinckrodt for North America

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Biotech company Cancer Prevention Pharmaceuticals, Inc (CPP) disclosed on Monday the launch of a license agreement with Mallinckrodt Pharmaceuticals,

Through its Sucampo AG subsidiary, Mallinckrodt obtained exclusive North American commercialisation rights to CPP's lead drug candidate, CPP-1X/sul.

Pursuant to the license agreement, Mallinckrodt paid CPP a USD5m license fee. CPP maintains all global rights to CPP-1X/sul outside North America.

Upon commercialisation of CPP-1X/sul, CPP and Mallinckrodt will share profits equally on all North American sales of the drug.

CPP is eligible to receive up to USD185m from Mallinckrodt, dependent upon achievement of other clinical development and sales milestones, subject to a reduction of up to USD15m related to amounts provided by CPP in advance of entering this agreement. Each party will be reimbursed for its R&D expenses from future product profits.

As part of the transaction, CPP signed a service agreement with Mallinckrodt to assist with completing the FAP Phase 3 pivotal trial and certain activities supporting the preparation, filing and review of the NDA in the US. CPP expects to be compensated for the services with additional R&D payments of up to approximately USD10m. FAP is a genetic disease that typically develops into colon cancer.

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Date:Aug 14, 2018
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