Quantum Pharma announces out-licensing agreement
Quantum Pharma Plc (AIM: QP.),the growing service-led niche pharmaceutical manufacturer, developer and supplier to the health and care sectors, is pleased to announce that its wholly-owned subsidiary Colonis Pharma Limited ("Colonis") has signed an out-licensing agreement with a major German pharmaceutical company for its first licensed product, a cholecalciferol 20 000IU capsule, marketed in the UK under the brand name Aviticol ("Product").
Under the terms of the out-licensing agreement, Colonis has granted its German partner an exclusive licence to use Colonis' dossier for the Product, in order to obtain the Marketing Authorisation in Germany ("German MA"). Upon grant of the German MA, the partner also receives the exclusive right to commercialise, manufacture, promote, sell and distribute the Product in Germany. Colonis will be responsible for the filing and registration of the Product within Germany for its German partner.
Total milestone payments from this out-licensing transaction will amount to €1.5million, with royalty payments payable by the German partner on sales of the production in Germany for the next five years. A proportion of milestone payments are payable upfront and are, in part, conditional on Colonis obtaining the German MA.
Andrew Scaife, CEO of Quantum Pharma, said: "This type of out-licensing deal forms an integral part of our business plan and model for niche pharmaceuticals through our Colonis and Lamda divisions. As well as product development and product launches handled by Quantum in the UK, our plan also includes the out-licensing of products in our current and future portfolio to third parties globally. This is a significant out-licence into a major healthcare market which provides a base for further out-licences and product launches. We continue to explore out-licensing opportunities for Aviticol in a number of other territories. Given that we have a further 70 or so products in our current development portfolio at Colonis you can see the potential for, and exciting nature of, this part of our business model."
Posted by: Quantum Webmaster on 12th October 2015