PYPD - PolyPid to get $2.6M upfront under license deal with Advanz for D-PLEX in Europe
- PolyPid ( NASDAQ: PYPD ) signed an exclusive licensing agreement for its lead drug candidate D-PLEX 100 in Europe with U.K.-based Advanz Pharma ( OTCPK:CXRXF ).
- D-PLEX 100 is used for preventing surgical site infections (SSIs) in abdominal and cardiac surgeries, in Europe.
- Under the agreement, PolyPid will receive $2.6M upfront and development-related milestones of up to $20.9M. Upon commercialization, PolyPid will receive up to $89M in sales-related milestones, the company said in an Aug. 3 press release.
- In addition, PolyPid will also supply D-PLEX 100 to Advanz for a transfer price and will be entitled to royalties on net sales in double-digit percentages of up to mid-twenties.
- "Advanz Pharma's expertise in marketing hospital-based therapies, combined with its significant resources and relationships in the region, will prove invaluable in expanding access to D-PLEX 100 and delivering this much-needed therapy, if approved, to patients," said PolyPid's CEO Dikla Czaczkes Akselbrad.
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PolyPid to get $2.6M upfront under license deal with Advanz for D-PLEX in Europe