Moberg Pharma announces signing of exclusive license agreement with Bayer for commercialisation of MOB-015 in Europe.
M2 EQUITYBITES-February 12, 2019-Moberg Pharma announces signing of exclusive license agreement with Bayer for commercialisation of MOB-015 in Europe
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Swedish pharmaceutical company Moberg Pharma AB (STO:MOB) announced on Monday the signing of an exclusive license agreement with the Consumer Health division of Bayer AG (Xetra:BAYN) for commercialisation of MOB-015 in Europe.
MOB-015 is a new topical treatment of onychomycosis based on Moberg Pharma's patented proprietary formulation of terbinafine.
Under the terms of the license agreement, Moberg Pharma will finalise the ongoing phase III programme, complete registration in Europe and provide supply for the product. Bayer will be marketing, distributing and selling MOB-015 in Europe upon completion of phase III clinical development and registration.
Also, Moberg Pharma is eligible to receive up to EUR50m in milestone payments, including EUR1.5m paid at signing. The majority of the milestone payments are contingent on sales targets, with the balance contingent on development and regulatory milestones. Moberg Pharma will also receive supply fees including royalties.
Reportedly, this is the second major agreement for MOB-015.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Feb 12, 2019|
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