Starpharma (ASX:SPL) and Mundipharma have announced a multi-region licence for the sale and marketing rights to VivaGel BV in Asia (including China, Japan and Korea), the Middle East, Africa and the majority of Latin America.
Mundipharma will register and launch VivaGel BV as part of its BETADINE range.
Under the licence, Starpharma will receive returns via a revenue share on VivaGel BV sales. In addition, Starpharma is eligible to receive signing, regulatory and commercial milestones totalling up to $12.2 million, including a $1.3 million upfront payment.
The term of the agreement is 15 years and incorporates commercial performance obligations, including minimum annual purchases by Mundipharma. Other commercial terms of the agreement remain confidential.
Mundipharma is responsible for regulatory activities, market pricing and marketing and promotion of the product. Mundipharma will commence regulatory activities immediately with initial approvals anticipated towards the end of 2018. Under the agreement, Starpharma retains ownership of the VivaGel BV trademark and will supply Mundipharma with the product.
VivaGel BV already has regulatory approval in both Europe and Australia. The company recently announced it had lodged its New Drug Application (NDA) with the US FDA under a Fast Track designation.
Starpharma also said it is in advanced commercial negotiations for marketing rights to VivaGel BV in the rest of the world, including North America and Europe, and expects to announce further licensing arrangements in the coming months.
According to Starpharma CEO, Dr Jackie Fairley, “We are delighted to have licensed VivaGel BV to Mundipharma, a global leader in healthcare. Mundipharma’s market-leading position and extensive sales, marketing and regulatory network make them the ideal partner for VivaGel BV in this expansive territory. The licence represents a financially attractive deal for Starpharma. Over the coming months, we’ll be working closely with Mundipharma to secure market access for VivaGel BV as quickly as possible throughout their territory.”
Raman Singh, Mundipharma CEO, said: “The VivaGel BV product represents a true innovation in the management of bacterial vaginosis (BV). It sits well under the BETADINE brand, which has emerged as a powerful brand platform for consumer healthcare products, trusted by women globally.”