Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF) announced an exclusive licence agreement with KYE Pharmaceuticals Inc. for the development and commercialisation of its iron deficiency treatment Accrufer/Feraccru (ferric maltol) in Canada.
Under the deal, KYE will be responsible for all costs, both clinical and regulatory, for securing marketing authorisation and commercialisation of Accrufer in Canada, while Shield will be responsible for all manufacturing costs of goods sold in the country.
Shield will receive an upfront payment of £150,000 and a further £850,000 in development and sales milestones, comprised of a £250,000 payment upon regulatory approval of Accrufer by Health Canada and up to £600,000 in milestone payments related to sales targets.
Shield will also receive double-digit royalties on net sales of Accrufer.
"This agreement for the development and commercialisation of Accrufer in Canada gets 2022 off to a great start for Shield,” said Shield chief executive Greg Madison.
“We are dedicated to growing sales of Accrufer/Feraccru and bringing this important product to patients around the world with iron deficiency. Securing a commercial partnership for Canada is an important part of our strategy and we feel that KYE is the right partner.”
KYE president Doug Reynolds added: "Iron deficiency is highly prevalent worldwide and a public health concern in Canada. Accrufer will be the first oral prescription only therapy available in Canada to treat patients who continue to suffer from low iron despite attempts at treatment with currently available agents.”