Last checked at 9 May 2018 15:15
Inspiration Healthcare Group plc
("Inspiration Healthcare" or the "Company")
European Distribution Partnership signed between
NeuroproteXeon and Linde
Inspiration Healthcare Group plc (AIM: IHC), the global medical device company, today announces that NeuroproteXeon Limited ("NeuroproteXeon) in which Inspiration Healthcare holds a has a 8.1 per cent. fully diluted shareholding has completed a distribution agreement with Linde AG (Linde) for XENEXTM (xenon by inhalation) for Post Cardiac Arrest Syndrome ("PCAS") for the European Union plus United Kingdom, Switzerland, Norway and Iceland.
The agreement includes a multi-tiered royalty and 23 million euros in milestone payments. The two key milestone payments are on approval for PCAS from the European Medicines Agency ("EMA") and when Linde reaches cumulative sales of 100 million euros - provided this occurs in the first four years following approval.
Inspiration Healthcare was a founding partner of NeuroproteXeon along with Touchstone Innovations plc (formerly Imperial Innovations plc) and Prof. Mervyn Maze and Prof. Nick Franks. Neil Campbell, Chief Executive Officer of Inspiration Healthcare is a Non-Executive Director of NeuroproteXeon.
Neil Campbell, CEO of Inspiration Healthcare Group, said today "We have been involved with xenon delivery for many years and delighted with the agreement signed today with Linde which follows on from the announcement we made in October last year when NeuroproteXeon secured a licence agreement with Mallinckrodt plc. The combination of these world leading companies working with NeuroproteXeon significantly increases the chances for success."
Enquiries:
Inspiration Healthcare Group plc Neil Campbell, Chief Executive Officer Mike Briant, Chief Financial Officer | Tel: 01455 840555
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Nominated Adviser & Broker Cenkos Securities plc Mark Connelly | Tel: 0207 397 8900
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Cadogan PR Alex Walters | Tel: 07771 713608 |
About Inspiration Healthcare
Inspiration Healthcare (AIM: IHC) is a global supplier of medical technology for critical care, operating theatre and other medical applications. The Company provides high quality innovative products to patients and caregivers around the world that help to improve patient outcomes and efficiencies of healthcare organisations with patient focused customer service and technical support.
The Company's own brand of critical care solutions span non-invasive respiratory management, thermoregulation and diagnostics, and patient warming for newborns through to adults in intensive care and the operating theatre, whilst the distribution business supplies solutions to support specialised surgical procedures and infusion therapies.
Present in over 50 countries worldwide, Inspiration Healthcare's success has been built on continuous innovation, excellent customer service and an inherent commitment to improving the quality of life of patients, working in close collaboration with key opinion leaders and stakeholders in the clinical and medical community across the globe.
Further information on Inspiration Healthcare can be seen at www.inspiration-healthcare.com
About NeuroproteXeon
NeuroproteXeon, Inc. is a clinical-stage pharmaceutical/device company developing xenon to improve functional capabilities and survival in patients with Post-Cardiac Arrest Syndrome ("PCAS"). The Company has a license agreement with Mallinckrodt LLC (NYSE:MNK) for the sale and distribution of xenon gas for inhalation in North America, Australia and Japan upon approval of the drug in those markets.