- Applied Therapeutics ( NASDAQ: APLT ) added ~19% pre-market Wednesday after announcing a partnership with U.K.-based pharmaceutical company Advanz Pharma to commercialize its lead candidate AT-007 (govorestat) in Europe.
- Per the terms, Advanz Pharma will receive the exclusive commercial rights for AT-007 in the European Economic Area, Switzerland, and the UK targeting neurological conditions Galactosemia and SORD Deficiency, including certain European rights for the candidate in future indications.
- In return, Applied Therapeutics ( APLT ) will receive near-term development milestones and commercial sales milestones worth over €130M, including €10M upfront payment.
- The company is entitled to 20% of royalties on any future net sales of AT-007 in Europe. Also, it remains responsible for the development, manufacturing, and supply of AT-007 while Advanz Pharma takes over the packaging, distribution, and commercialization in Europe.
- In June, Applied Therapeutics ( APLT ) announced orphan medicinal product designation from the European Medicines Agency for AT-007 in Galactosemia.
For further details see:
Applied Therapeutics adds 19% on partnership with Advanz Pharma for lead asset