ACER - Acer Therapeutics will reacquire OLPRUVA rights from Relief Therapeutics

2023-08-31 06:32:27 ET

Pharmaceutical company Acer Therapeutics ( NASDAQ: ACER ) will reacquire worldwide development, commercialization and economic rights to OLPRUVA (sodium phenylbutyrate) from Relief Therapeutics, excluding the EU, Liechtenstein, San Marino, Vatican City, Norway, Iceland, Principality of Monaco, Andorra, Gibraltar, Switzerland, United Kingdom, Albania, Bosnia, Kosovo, Montenegro, Serbia and North Macedonia (Geographical Europe).

OLPRUVA is approved in the U.S. for the treatment of certain urea cycle disorders (or UCDs).

Acer and Relief have now agreed to terminate the CLA, where Acer is no longer required to pay Relief 60% of OLPRUVA net profits in the Acer territories and have regained all development and commercialization rights in rest of the world, excluding the Geographical Europe.

In return, Relief will receive an upfront payment by Acer of $10M, to be made within 5 business days of the signature date, with an additional payment of $1.5M due on the first-year anniversary of the $10M payment.

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