BBI - Brickell Biotech sells rights to sofpironium bromide to Botanix Pharmaceuticals

Brickell Biotech (NASDAQ:BBI) said Tuesday Botanix SB, a unit of Botanix Pharmaceuticals (OTCPK:BXPHF), acquired its rights to sofpironium bromide. Sofpironium bromide gel, 15% is a topical therapy that recently completed a U.S. phase 3 clinical trial for treating primary axillary hyperhidrosis, or excessive underarm sweating. Botanix acquired from BBI all assets primarily related to sofpironium bromide. In exchange, BBI will receive upfront and potential near-term regulatory milestone payments over the next 18 months of up to $9M from Botanix. BBI will be eligible to receive additional success-based regulatory and sales milestone payments of up to $168M and tiered earn out payments ranging from high-single digits to mid-teen digits on net sales of the gel. Certain amounts will be subject to payments by BBI to its previous licensor. Botanix will be responsible for all further R&D and commercialization of the gel globally. BBI and Botanix also inked into a transition services deal, whereby

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Brickell Biotech sells rights to sofpironium bromide to Botanix Pharmaceuticals