LifeCycle Pharma signs licence agreement with USA's Sciele Pharma  

2007.05.02
Danish biotech company LifeCycle Pharma has entered a licence agreement with USA's Sciele Pharma, as well as an additional agreement for technology partnership
Danish biotech company LifeCycle Pharma has entered a licence agreement with USA's Sciele Pharma for LCP-FenoChol, LifeCycle Pharma's most advanced product candidate, as well as an additional agreement for technology partnership. LCP-FenoChol is a fenofibrate for the treatment of abnormal lipid levels in the blood, including  triglycerides and cholesterol.
 
LifeCycle Pharma filed a New Drug Application (NDA) for LCP-FenoChol with the FDA in October last year. Provided the application is approved, Sciele Pharma will market the drug in the US, Canada and Mexico. Under the terms of the agreement, LifeCycle Pharma will receive an up-front payment of USD 5 m, milestone payments of up to USD 12 m upon FDA approval and meeting certain sales targets, and tiered mid-teen to high-teen royalty payments on product sales.
 
Flemming Ørnskov, CEO of LifeCycle Pharma says: "We are very satisfied with both these agreements, and look forward to Sciele helping us capitalise on LCP-FenoChol's significant commercial opportunity of becoming the lowest dose fenofibrate product in the USD 1.3 bn fenofibrate market in the US.
 
LifeCycle Pharma is based in Hørsholm north of Copenhagen. The company utilizes its proprietary Meltdose technology to improve the bioavailability of known and established compounds so that patients can absorb them more effectively. LifeCycle Pharma is listed on the OMX Nordic Exchange. The news was reported by financial daily newspaper Børsen and on LifeCycle Pharma's website.
 
Link > LifeCycle Pharma  

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