Faron Pharmaceuticals Oy (LON: FARN, First North:FARON) said it had signed a sub-licence agreement for the rights to a US patent covering the manufacturing of its interferon-beta 1a drug Traumakine.
Faron said the agreement clarifies its intellectual property position in the States ahead of any launch of Traumakine, which is being developed for systemic inflammatory response syndromes, including acute respiratory distress syndrome.
Chief executive, Dr Markku Jalkanen, said: "We are pleased to agree this sub-licence. We continue to believe in Traumakine's potential as a much-needed new treatment for respiratory failure and organ protection.”
Faron will pay a small signing fee, as well as single-digit standard market royalties from future sales of intravenous Traumakine in the US.
No further commercial details were released.