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ACERUS ANNOUNCES LICENSING OF NATESTO® IN MAJOR EUROPEAN COUNTRIES
Acerus Pharmaceuticals Corporation (TSX:ASP) has announced the signing of an agreement granting medac Gesellschaft für klinische Spezialpräparate mbH (“medac”) the exclusive right to market NATESTO® in 15 European countries (Germany, United Kingdom, France, Italy, Czech Republic, Slovakia, Spain, Sweden, Finland, Denmark, Norway, Poland, Austria, Netherland and Belgium). medac is a German pharmaceutical company with business in 80 countries and more than 1,200 employees worldwide.
“We are delighted to be partnering with medac for the commercialization of NATESTO® in Europe,” said Tom Rossi, President and Chief Executive Officer of Acerus. “Their extensive reach and commercial expertise within the speciality pharmaceutical sector will be a key advantage as we aim to maximize the full potential of NATESTO®. This agreement represents a significant milestone for Acerus as we continue to execute on our strategy of expanding the brand’s reach on a global scale.”
“We are very pleased to announce this partnership with Acerus as it enables us to provide patients in Europe with an innovative product and address a medical need,” said Dr. Ulrich Kosciessa, Managing Director of medac. “NATESTO® is an important advance for patients suffering from hypogonadism. Its novel nasal administration and unique safety and efficacy profile represent a clear opportunity to improve patient quality of life and represents a perfect fit to our current portfolio. We look forward to working closely with Acerus as we prepare to file NATESTO® for European marketing approval.”
Under the terms of the agreement, Acerus will receive a non-refundable upfront fee and regulatory milestone payments upon medac receiving marketing approval in certain countries as well as milestone payments based on achieving sales targets. In total, Acerus is eligible to receive up to €11,500,000 in upfront and milestone payments. Acerus will oversee the manufacturing of NATESTO® and, in addition, will receive a supply price for the product. If approved, NATESTO® will be the first and only testosterone nasal gel for androgen replacement therapy in adult males for conditions associated with a deficiency or absence of endogenous testosterone (hypogonadism) in Europe.
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