LONDON (Alliance News) - Indivior PLC on Thursday said it has entered a definitive licence agreement with HLS Therapeutics Inc granting exclusive commercialisation rights to Indivior's schizophrenia drug Perseris in Canada.
Indivior will receive USD1 million once the licence is signed, plus a USD4 million near-term milestone payment. Once Perseris is commercialised in Canada, Indivior will be eligible for "escalating double-digit royalties based on annual net sales". The amount of these royalties has not been further specified.
HLS is a pharmaceutical firm specialising in the commercialisation of late-stage products in Canada. Perseris, a long-acting injectable form of the antipsychotic risperidone, complements HLS's other antipsychotic product Clozaril. Clorazil is indicated for treatment-resistant schizophrenia.
Perseris could benefit from HLS's branded platform called the Clorazil Supper & Assistance Network, which includes treatment provider and patient services to support Clorazil.
At present, Perseris has been approved by the US Food & Drug Administration as a schizophrenia treatment but has not undergone review by Health Canada.
Indivior Chief Executive Officer Shaun Thaxter said: "We understand the challenges of patients living with schziophrenia and are pleased that Perseris may become available to Canadian patients through HLS. HLS has an experienced clinical and regulatory team with a strong track record of commercialization success in Canada, as well as a specialized team dedicated to psychiatry. In addition, there are significant synergies between Perseris, HLS' product Clozaril and HLS' unique [Clorazil Supper & Assistance Network] platform. Given these advantages, we are confident that HLS is the right partner for Indivior and we look forward to the potential growth we see for Perseris in Canada with HLS."
Shares in Indivior were up 0.9% at 41.50 pence on Thursday.
Indivior (INDV)