(Alliance News) - Shield Therapeutics PLC on Wednesday inked an exclusive licence agreement with KYE Pharmaceuticals Inc for the development and commercialisation of its lead product Accrufer, or Feraccru, in Canada.
The commercial-stage pharmaceutical company said Mississauga, Canada-based KYE will be responsible for all clinical and regulatory costs related to the actions required to achieve marketing authorisation and commercialisation of its iron deficiency product in Canada.
Shield, on the other hand, will be responsible for all manufacturing costs of goods sold in Canada, it explained.
Quays, England-based Shield will receive an upfront payment of GBP150,000.
It is also eligible to receive GBP850,000 in development and sales milestones consisting of a GBP250,000 payment upon regulatory approval of Accrufer by Health Canada and up to GBP600,000 in milestone payments with the achievement of specified calendar net sales targets.
Lastly, Shield will also receive double-digit royalties on the net sales of Accrufer.
"Shield has made significant progress on the commercial launch of Accrufer 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 among healthcare professionals in 2022," Shield's Chief Executive Greg Madison said.
KYE President Doug Reynolds commented: "Iron deficiency is highly prevalent worldwide and a public health concern in Canada. Accrufer will be the first oral prescription-only therapy available in Canada to treat patients who continue to suffer from low iron despite attempts at treatment with currently available agents."
Shares in Shield Therapeutics were up 4.9% at 49.30 pence each on Wednesday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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