CROSSJECT : US & Canada licensing agreement with Eton Pharmaceuticals for Crossject’s ZENEO® Hydrocortisone
16 Juin 2021 - 7:30AM
CROSSJECT : US & Canada licensing agreement with Eton
Pharmaceuticals for Crossject’s ZENEO® Hydrocortisone
Press Release
US & Canada licensing
agreementwith Eton
Pharmaceuticals for
Crossject’s ZENEO®
Hydrocortisone
- Exclusive licensing, distribution
and promotion agreement in the US and Canada with Eton
- Eton is focused on developing and
commercializing innovative pharmaceutical products in
endocrinology
- Pre-marketing payments to Crossject
of $5M USD
- On commercial launch Crossject will
supply Eton for a price per unit, and receive 10% royalties on
Eton’s net sales, plus up to $6M USD in 3 commercial
milestones
Dijon, 15 June 2021
CROSSJECT (ISIN: FR0011716265; Ticker:
ALCJ), a specialty pharma company that develops, and will soon
market, a portfolio of drug device combinations for use in
emergency situations announces the signing of a US &
Canada commercial agreement.
Patrick Alexandre, CEO of Crossject, said: ‘‘We
are proud to announce a sound commercial agreement for ZENEO®
Hydrocortisone in the US and Canada with an American leader in
Adrenal Insufficiency. Eton has successfully established strong
relations with the patient communities and medical specialists that
are its core focus. ZENEO® Hydrocortisone answers a medical need.
This strong partnership will contribute to saving lives by bringing
to patients and their families a modern autoinjection
possibility.’’
Sean Brynjelsen, CEO of Eton Pharmaceuticals,
said: ‘‘The ZENEO® autoinjector is a revolutionary delivery system
and this product is a terrific strategic fit with our current
adrenal insufficiency business. Patients, advocacy groups, and
physicians in the adrenal insufficiency community have repeatedly
expressed to us the need for a hydrocortisone autoinjector, so we
are excited to be partnering with Crossject to bring this product
to patients in need.’’
A sound commercial agreement on a key
geography
Crossject and Eton Pharmaceuticals signed an
agreement for ZENEO® Hydrocortisone in the US and Canada. Under the
terms of this agreement, Eton will be responsible for all
regulatory and commercial activities, including licensing,
regulatory filing fees, distribution, and promotion. The agreement
covers the US and Canada, a high market potential geographic area.
Crossject will be responsible for the management and expense of
development, clinical, and manufacturing activities.
The agreement includes:
- Until Marketing Authorizations are
granted: development and regulatory milestones of $5M USD, of which
$0.5 M USD paid to CROSSJECT upon signing and $0.5M USD escrowed;
the other milestones are expected over the next 3 years ;
- Crossject will receive (i) a
mid-double-digit price for each ZENEO® Hydrocortisone supplied to
Eton ; and (ii) 10% royalties based on Eton’s net sales ; and (iii)
sales milestones of up to $6M USD subject to 3 thresholds in Eton
annual net sales.
ZENEO® Hydrocortisone, a response to an
unmet medical need
The ready to use ZENEO® Hydrocortisone will
provide a 2-step rescue kit developed for a simple and intuitive
autoinjection even by non healthcare professionals.
Adrenal crisis, also known as acute adrenal
insufficiency, is a potentially life-threatening rare medical
condition requiring immediate emergency treatment. Patients and
caregivers are currently trained by healthcare professionals to use
a rescue kit with 15 steps prior to starting injection. ZENEO®
Hydrocortisone will provide an easy-to-use and quick rescue kit to
patients and their caregivers.
About Eton PharmaceuticalsEton
Pharmaceuticals, Inc. (Nasdaq: ETON) is a specialty
pharmaceutical company focused on developing and commercializing
innovative treatments for rare pediatric diseases. Eton currently
owns or receives royalties from three FDA-approved products,
including ALKINDI SPRINKLE®, an orphan-drug status corticosteroid
indicated as replacement therapy in pediatric patients with adrenal
insufficiency, Biorphen®, and Alaway Preservative Free®, and has
six additional products submitted to the FDA.
Contacts :
CrossjectPatrick Alexandre info@crossject.com |
Relations investisseurs CIC Market
Solutions Catherine Couanau +33 (0) 1 53 48 81 97
catherine.couanau@cic.fr |
|
Relations presse Buzz &
Compagnie Mélanie Voisard +33 (0)3 80 43 54 89
melanie.voisard@buzzetcompagnie.com Christelle
Distinguin +33 (0)3 80 43 54
89christelle.distinguin@buzzetcompagnie.com |
About CROSSJECT • www.crossject.com
Crossject (ISIN: FR0011716265; Ticker: ALCJ;
LEI: 969500W1VTFNL2D85A65) is developing and is soon to market a
portfolio of drugs dedicated to emergency situations: epilepsy,
overdose, allergic shock, severe migraine and asthma attack. Thanks
to its patented needle-free self-injection system, Crossject aims
to become the world leader in self-administered emergency drugs.
The company has been listed on the Euronext Growth market in Paris
since 2014, and benefits from Bpifrance funding
- US Canada licensing agreement with Eton
Pharmaceuticals_VENG
Crossject (EU:ALCJ)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Crossject (EU:ALCJ)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024