Shield Thera Share News (STX)

(Sharecast News) - Commercial-stage pharmaceutical company Shield Therapeutics has entered into an exclusive licence agreement for 'Accrufer', it announced on Wednesday, with KYE Pharmaceuticals in Canada.
The AIM-traded firm said KYE would undertake and be responsible for all costs, both clinical and regulatory, related to activities required to achieve marketing authorisation and commercialisation of Accrufer in Canada.

Shield would be responsible for all manufacturing costs of goods sold in Canada.

The company said it would receive an upfront payment of £0.15m, and would be eligible to receive £0.85m in development and sales milestones comprised of a payment of £0.25m on the approval of Accrufer by Health Canada, and up to £0.6m in milestone payments on the achievement of specified calendar net sales targets.

For the term of the agreement, Shield would also receive "double-digit" royalties on net sales of Accrufer.

"This agreement for the development and commercialisation of Accrufer in Canada gets 2022 off to a great start for Shield," said chief executive officer Greg Madison.

"We are dedicated to growing sales of Accrufer [and] Feraccru and bringing this important product to patients around the world with iron deficiency.

"Securing a commercial partnership for Canada is an important part of our strategy and we feel that KYE is the right partner."

Madison said the company was "looking forward" to supporting KYE's efforts to bring Accrufer to the market in Canada.

"Shield has made significant progress on the commercial launch of Accrufer [and] Feraccru over the last 12 months by implementing important geographic partnerships and successfully securing payer coverage with several large pharmacy benefit managers.

"We look forward to continuing to expand the awareness of Accrufer [and] Feraccru among healthcare professionals in 2022."

At 1319 GMT, shares in Shield Therapeutics were up 2.13% at 48p.