Polypide
Polypide
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Announcing the signing of an exclusive license agreement with ADVANZ PHARMA to commercialize D-PLEX100 in Europe. The agreement includes potential payments of over 110 million dollars in advance, milestone payments and royalties on sales. ADVANZ PHARMA will receive the exclusive rights to commercialize D-PLEX 100 for the prevention of surgical site infections following abdominal and heart surgeries, in Europe, thus leveraging its expertise and presence in the continent’s hospitals.
Polipid is in a phase three clinical trial of the drug focused on improving results after surgery. According to the terms of the agreement, Polypid will receive an advance upon the signing of the agreement and additional milestone payments related to the development, in a total amount of up to 23.5 million dollars as follows: an advance payment of 2.6 million dollars, up to 12.5 million dollars subject to positive top-line results in the SHILED Phase 3 trial, and additional development-related milestone payments of up to $8.4 million.
During the commercialization phase, Polyfeed will receive payments of up to $89 million in sales-related milestones. In addition, the company will supply D-PLEX100 to ADVANZ PHARMA for a transfer price and will also be entitled to royalties on sales, in double-digit percentages up to mid-twenties.
“We are very pleased to collaborate with ADVANZ PHARMA to commercialize D-PLEX100 in Europe,” said Decla Checzeks Axelvard, CEO of Polypid. “ADVANZ PHARMA’s expertise in marketing drugs to hospitals together with the company’s significant resources and connections in Europe will be invaluable Rav in the accessibility of D-PLEX100 and the ability to provide this essential treatment to patients, if approved. In addition, we are in dialogue with medium and large potential strategic partners, all of whom have extensive experience in sales to hospitals and operating rooms, for the potential commercialization of D-PLEX100 in additional territories.”
Polypid recently announced the completion of patient enrollment in the SHIELD I phase 3 trial of D-PLEX100 for the prevention of surgical site infections in abdominal surgeries, when Top-line results are expected to be received by the end of the current quarter.
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