SkyePharma licenses Solaraze rights for Australasia to Shire
SkyePharma, of the UK, has licensed exclusive rights to manufacture, distribute and sell Solaraze, a topical therapy for actinic keratosis (AK), in Australia, New Zealand, South Africa and certain other countries in the Pacific Rim to Shire Pharmaceuticals.
SkyePharma, of the UK, has licensed exclusive rights to manufacture, distribute and sell Solaraze, a topical therapy for actinic keratosis (AK), in Australia, New Zealand, South Africa and certain other countries in the Pacific Rim to Shire Pharmaceuticals.
SkyePharma will receive up to £2.2m, comprising an undisclosed upfront payment and additional milestones contingent on the product successfully completing a Phase III clinical study in Australia and receiving regulatory approval in the licensed territories. SkyePharma will also receive royalties on net sales and milestones as sales exceed certain levels.
Solaraze has been launched in the US under license from SkyePharma by Quintiles Transnational. In May 2002, Shire licensed the European marketing rights for Solaraze, which is now marketed in the UK, Germany, Italy and Sweden.
Michael Ashton, SkyePharma's ceo, said: 'Shire has already shown itself to be an excellent marketing partner for Solaraze in Europe. It is a natural progression for both parties to extend last year's agreement to include these important markets where the disease is undertreated. For example, we estimate that the incidence of AK, a pre-cancerous condition associated with over exposure to the sun, is in the region of 20% in Australia.'