UPPSALA, Sweden and PICKERING, ON, Jan. 22, 2019 /CNW/ - Klaria AB (Klaria) (Parent Company, Klaria Pharma Holding AB, Stockholm OMX Nasdaq:KLAR) and Purdue Pharma (Canada) today announced they have entered into an exclusive development agreement for KL-01401 (Epinephrine Oromucosal Film).
KL-01401 is a developmental stage formulation of epinephrine for emergency treatment of severe anaphylactic reactions in patients who are at increased risk for anaphylaxis which will be co-developed by Klaria and Purdue Pharma (Canada). The development agreement includes exclusive global license and supply options for the independently associated Purdue/Napp/Mundipharma network of companies upon achievement of defined milestones.
Under the terms of the agreement, the total value of all milestones achievable is $55.2 million of which payments and near-term milestones are $5.2 million. In addition, Klaria will receive mid-to-upper single digit royalties on net sales. Further terms of the agreements give Klaria exclusive manufacturing rights to supply the global market with KL-01401.
Klaria AB has also added epinephrine to its license agreement with Uppsalagruppen Medical AB. In this agreement, Uppsalagruppen will receive a four percent royalty on Klaria's net income from sales of KL-01401.
KL-01401 is based on Klaria's novel patented drug delivery platform, which provides several benefits to patients who may require emergency treatment, for anaphylactic reactions. It is planned as an easy to use, non-injectable self-administered treatment that allows patients and their caregivers to discreetly carry a life-saving emergency treatment medication with them at all times.
Dr. Scott Boyer, CEO, Klaria commented: "We are extremely pleased and encouraged to enter into this agreement with Purdue – our second collaboration to date. This agreement combines the strengths of our patented drug delivery platform with a partner who is a leader in development and commercialization of innovative treatments. We are confident that the result of our partnership will meet an unmet medical need for patients relying on epinephrine in the event of a severe allergic reaction."
David Pidduck, President and CEO of Purdue Pharma (Canada) commented: "Today's agreement signals an exciting move for Purdue as we endeavour to shift the treatment paradigm for Canadians living with the threat of an anaphylactic reaction. Anaphylaxis is the most serious type of allergic reaction and current treatment options continue to face increasing challenges, including availability. The deepening of our partnership with Klaria by entering into a second development agreement with them is another example of our commitment to investing in new technologies and treatment options that will make a positive impact on the healthcare system and on patients' lives. This agreement is consistent with our overall strategy of expanding opportunities through business development."
About Klaria AB
Klaria develops innovative products with clear medical benefits for patients in need of rapid, reliable treatment. Klaria's products are based on a patented drug delivery film which is combined with clinically-tested and established active drugs substances. Klaria is listed on Nasdaq First North under the name KLAR. FNCA Sweden is the Certified Advisor for Klaria Pharma Holding AB. The complete company description can be downloaded from www.klaria.com
About Purdue Pharma (Canada)
Purdue Pharma (Canada) is a research-based pharmaceutical and consumer healthcare company which has operated in Canada for more than 60 years. Its employees are committed to improving the health and quality of life of Canadians. The company has a broad portfolio of prescription and non-prescription medications including: prescription treatments for pain, ADHD, chemotherapy-induced nausea and vomiting (CINV), various ophthalmic conditions and OTC products. The company supports evidence-based education for the safe use of its products. Its headquarters, located in Pickering, ON, include integrated research & development, formulation and manufacturing operations. Privately held and founded by physicians, Purdue Pharma (Canada) is independently associated with the worldwide Purdue/Napp/Mundipharma network of companies. Learn more at www.purdue.ca
SOURCE Purdue Pharma
For further information: Lisa Joyce, Head, Communications, Purdue Pharma (Canada), [email protected]