Almirall

Almirall announces a global licensing agreement with Patagonia for congenital ichthyosis

Almirall S.A. today announced that it has entered through US-based Aqua into a global licensing agreement with Patagonia Pharmaceuticals, LLC. (a specialty pharmaceutical company developing innovative prescription therapies for rare dermatological diseases), for the development and commercialization of PAT-001, a new medicinal treatment containing isotretinoin entering into Phase II clinical studies for patients with congenital ichthyosis in Q4 2016.

Based on the license agreement, Almirall and Patagonia will jointly conduct development activities and Almirall will acquire global rights to commercialise PAT-001 in congenital ichthyosis together with any future Dermatology indications. In addition, other products could be developed based on existing related Patagonia intellectual property. Under the terms of the transaction, Almirall will make an upfront payment of $3.5 million (USD) and Patagonia will be eligible to receive additional development and regulatory milestone payments up to $24 million. In addition, Patagonia will be eligible to receive sales milestone payments and double-digit royalties on net sales. PAT-001 is expected to surpass $100 million of peak sales in the US. This transaction represents another step forward for Almirall on its intention to be a leading specialty company with a strong focus on skin health.

Congenital ichthyosis is a group of chronic skin disorders characterised by persistently thick, dry, scaly or flaky skin1. It can be disfiguring and disabling, and patients often experience numerous social and psychological consequences2. There are no treatments approved by the FDA in the United States for moderate and severe subtypes of this disease. PAT-001 was granted in 2014 with Orphan Drug Designation by the FDA for the treatment of congenital ichthyosis.

Jonathan Rome, Patagonia´s CEO, said: “We are very excited about our new relationship with Almirall. They have demonstrated a real drive to become a major player in the global Dermatology market. It has been a pleasure to work with Aqua and Almirall, and we look forward to a fruitful collaboration”.

Eduardo Sanchiz, Almirall’s CEO, stated: “We look forward to working together with Patagonia´s team in order to bring relief to patients suffering from congenital ichthyosis. This agreement shows again the potential of Almirall as a trusted partner in dermatology and our willingness to continue expanding our portfolio of innovative medicines”.

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