Norgine has signed a deal with Shield Therapeutics allowing it to commercialise iron deficiency therapy Feraccru in Europe, Australia and New Zealand.
Under the terms of the deal, Shield will receive an immediate £11 million upfront payment and is also in line to receive up to 4.5 million euros in short-term development milestones and up to 50 million euros in sales milestones.
In addition, Shield will bank tiered royalties ranging from 25% to 40% of net sales of Feraccru.
The long-term exclusive licence grants Norgine the right to commercialise the treatment in the UK, France, Germany, Italy, Spain and all other European countries which are not already covered by Shield’s previously announced licence agreements with AOP Orphan Pharmaceuticals AG and Ewopharma AG, as well as in Australia and New Zealand.
Shield retains full ownership of the global intellectual property rights to Feraccru including responsibility for the completion of the ongoing AEGIS-H2H study, a planned Phase III paediatric study and any further significant development of the product.
Carl Sterritt, Shield’s chief executive, said the move will significantly accelerate the Feraccru’s commercialisation in Europe.
“With Norgine’s established infrastructure and commercial expertise, they will be a valuable partner for Shield and Feraccru and this agreement should quickly see many more patients in Europe benefiting from Feraccru’s unique and outstanding characteristics, which differentiate it from existing oral and intravenous therapies for the treatment of iron deficiency.”