Almirall in $481-Million Skin-Disease Therapy Pact
Almirall, a Barcelona-based provider of medicines and medical devices, has formed a collaboration with Nuevolution A/S, a wholly owned subsidiary of Nuevolution AB, a small-molecule drug-discovery biotech company headquartered in Copenhagen, Denmark, for the development and commercialization of Nuevolution’s RAR-related orphan receptor gamma 2 (RORγt) inverse agonist (inhibitor) program for treating inflammatory skin diseases and disorders as well as psoriatic arthritis.
Almirall obtains rights to Nuevolution’s RORγt inhibitor program to identify and develop small-molecule therapeutics for inflammatory skin diseases and psoriatic arthritis. As part of the agreement, the parties will also establish a research collaboration for the identification of additional RORγt inhibitors, with an exclusive option for Almirall to use within the dermatological field and with the optional use outside the field of collaboration for Nuevolution. Almirall will be responsible for funding of any further research as well as preclinical, clinical, regulatory, and commercial activities. Nuevolution will be responsible for funding of any of its own research.
Nuevolution will receive an upfront payment of EUR 11.2 million ($11.9 million), and is eligible to receive development and regulatory milestone payments of up to in total maximum of EUR 172 million ($183 million) provided successful development, and tiered commercial sales milestones of up to in total maximum of EUR 270 million ($287 million). Nuevolution would further be entitled to receive tiered royalties on future net sales.