Almirall: buys licensing rights from Dermira
(CercleFinance.com) - Spanish drugmaker Almirall has agreed to pay US biopharmaceutical firm Dermira 50 million dollars for the rights to develop a treatment for atopic dermatitis.
Almirall said it has exercised its option to license rights to develop and commercialise the injectable, humanized monoclonal antibody lebrikizumab for the treatment of atopic dermatitis and other indications in Europe.
Almirall and Dermira entered into an option and license agreement in February 2019, granting Almirall an exclusive option in exchange for an upfront option payment of 30 million dollars.
Following Almirall's decision to exercise the option, the company will pay Dermira 50 million dollars, with Dermira also eligible to receive additional payments, including 30 million dollars in case of the initiation of Phase 3 clinical studies.
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