Last checked at 6 Jul 2017 07:00
Shield Therapeutics plc and Ewopharma AG
("Shield" or the "Group", "Ewopharma")
Feraccru licence agreement for Switzerland
London, UK, 6 July 2017: Shield Therapeutics plc (LSE:STX), a speciality pharmaceutical company focused on secondary care, and Ewopharma AG, a pharmaceutical marketing company headquartered in Schaffhausen, Switzerland, are pleased to announce that they have entered into an exclusive sale, supply, distribution and marketing agreement for Feraccru® in Switzerland.
Under the terms of the agreement, Shield will continue to manage all regulatory aspects of Feraccru's initial marketing authorisation and planned future label expansion, supply product as well as provide significant product training and support for the brand, whilst Ewopharma will be responsible for all aspects of pricing, reimbursement, marketing and distribution.
Switzerland is a well-developed market for the treatment of Iron Deficiency Anaemia (IDA), currently contributing almost 15% of total European IV iron sales. With its existing expertise in the IDA market and focus on gastroenterology, both parties believe Ewopharma is ideally positioned to launch Feraccru into the Swiss market and that Feraccru will represent a well matched, integral addition to Ewopharma's existing portfolio.
Having recently extended Shield's distribution agreement with AOP Pharmaceuticals to include the commercialisation of Feraccru in Scandinavia (as previously announced), this agreement further illustrates the execution of Shield's stated strategy to pursue geographic expansion of Feraccru commercialisation outside its core markets of the EU-5 and the USA. The detailed commercial terms of the deal are not disclosed although Shield will receive an upfront fee, is eligible to receive further milestone payments based on regulatory and commercial achievements and will have an on-going economic interest in the commercial success of Feraccru in the territory.
Carl Sterritt, Chief Executive Officer and Founder of Shield Therapeutics, commented: "The agreement entered into today further validates our commitment to roll-out of Feraccru to patients in multiple geographies as quickly as possible. It also reflects the Group's strategy to maximise value for stakeholders through an appropriate mix of self-commercialisation in core markets and licensing in other geographies. We are very pleased to partner with Ewopharma who are ideally placed to commercialise Feraccru in Switzerland and look forward to a successful collaboration in this highly-developed market for IDA."
Alain Staub, Chief Executive Officer and Main Shareholder of Ewopharma AG, adds: "Feraccru ideally fits our development strategy as we intend to strengthen our iron deficiency franchise. Switzerland is traditionally an IV iron market. We are therefore delighted to introduce this innovative oral iron therapy and offer our Swiss patients an easier, more convenient alternative. We look forward to a long-term partnership with Shield."
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For further information please contact:
Shield Therapeutics plc | +44 (0) 207 186 8500 |
Joanne Estell, Chief Financial Officer Karl Keegan, Corporate Development Director
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Ewopharma AG | +41 (0) 52 633 09 99 |
Reto Schaberl, Head Business Development Dr. Shila Schneider, Business Development Manager
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Nominated Adviser and Joint Broker | +44 (0)20 3100 2222 |
Liberum Capital Limited | |
Christopher Britton/Steve Pearce
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Joint Broker | + 44 (0)20 7418 8900 |
Peel Hunt LLP | |
James Steel/Dr. Christopher Golden
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Financial PR Adviser | +44 (0)203 709 5700 |
Consilium Strategic Communications Mary-Jane Elliott/Matthew Neal | shieldtherapeutics@consilium-comms.com |
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About Shield Therapeutics plc
Shield Therapeutics is a specialty pharmaceutical company focused on the commercialisation and development of late-stage, hospital-focused pharmaceuticals, which address areas of unmet medical need. Our clear purpose is to help our patients become people again, by enabling them to enjoy the things that make the difference in their everyday lives. The Group has a marketed product, Feraccru®, for the treatment of IDA in adult patients with IBD which has exclusive IP rights until the mid-2030's. In addition, the Group is developing PT20, a late-stage pharmaceutical for the treatment of systemic phosphate accumulation (hyperphosphatemia). Shield Therapeutics, headquartered in London, is listed on LSE's AIM under the ticker STX. For more information please visit www.shieldtx.com.
About Ewopharma AG
Ewopharma AG, headquartered in Schaffhausen (Switzerland), is a pharmaceutical marketing company focused on Central Eastern Europe and Switzerland. With more than 50 years' presence in the region, Ewopharma has extensive knowledge of these markets and enjoys a privileged position in the area. The company covers all aspects of market access and commercialisation of ethical pharmaceutical and consumer health products. Further information is available at www.ewopharma.com.
About Feraccru®
Feraccru is Shield's lead product and is a novel therapy for the treatment of IDA that received an initial marketing authorisation across Europe in February 2016 for the treatment of adult IBD patients with IDA. Feraccru is the first oral iron therapy to be specifically approved for the treatment of IDA in patients with IBD and Shield's initial target market for Feraccru for in-house commercialisation is the approximately 300,000 IBD patients in the EU-5, who have been diagnosed with IDA in IBD.