Shield Thera Share News (STX)

(Alliance News) - Shield Therapeutics PLC on Tuesday reported an exclusive deal with a Japanese distributor, as it looks keep expanding Accrufer's global footprint.

The Newcastle, England-based commercial-stage pharmaceutical company said it has entered an exclusive licence agreement for Accrufer with Tokyo-based medical products distributor, Vital Net Inc.

Accrufer is the firm's stable, non-salt based oral therapy for adults with iron deficiency with or without anemia.

Under the agreement, said Shield Therapeutics, Vital Net is responsible for all costs tied to activities necessary for marketing authorisation and commercialisation of Accrufer in Japan.

The firm said it will receive an initial payment of around USD665,000, with it eligible for additional milestone payments tied to regulatory approval and specified net sales targets achieved by Vital Net.

Its shares were down 0.8% at 2.33 pence on Tuesday morning in London.

The agreement will also see Shield Therapeutics receive double-digit royalties on net sales of Accrufer, with Vital Net responsible for development costs and regulatory activity.

Shield Therapeutics Chief Executive Anders Lundstrom commented: "This partnership aligns with our commitment to keep expanding our global footprint for Accrufer. Japan, the third largest pharmaceutical market in the world, is an important market to enter as iron deficiency is a prevalent health concern in Japan, especially among women, children, and the elderly.

"Accrufer offers a new option for those who need a more effective treatment to restore their iron levels and improve their overall health. We look forward to working together with Vital Net to making Accrufer available to the people of Japan."

By Christopher Ward, Alliance News reporter

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