Cadila Healthcare rose 1.12% to Rs 438.75 after the pharmaceutical company said that its US subsidiary has acquired experimental drug from Cyprium for treating Menkes disease.
Cyprium Therapeutics, a partner of Fortress Biotech, and Sentynl Therapeutics, a U.S.- based specialty pharmaceutical company owned by the Zydus Group, has announced its execution of an asset purchase agreement to commit development funding for and acquire Cyprium's proprietary rights to CUTX-101, its Copper Histidinate product candidate for the treatment of Menkes disease.
Menkes disease is a rare X-linked recessive pediatric disease caused by gene mutations of copper transporter ATP7A. CUTX-101 is in clinical development to treat patients with Menkes disease.
Under the terms of the agreement, Sentynl will make an upfront cash payment to Cyprium, provide additional cash payments upon the achievement of certain regulatory milestones, and pay royalties and commercial milestone payments based on the net sales of CUTX-101.
Under the agreement, Cyprium is eligible to receive up to $20 million in upfront development and regulatory cash milestones through NDA approval, as well as potential sales milestones. Royalties on CUTX-101 net sales ranging from the mid-single digits up to the mid-twenties are also payable. Cyprium will retain 100% ownership over any FDA priority review voucher that may be issued at NDA approval for CUTX-101.
Cyprium will retain development responsibility of CUTX-101 through approval of the New Drug Application (NDA) by the United States Food and Drug Administration (USFDA), and Sentynl will be responsible for commercialization of CUTX-101 as well as progressing newborn screening activities. Continued development of CUTX-101 will be overseen by a Joint Steering Committee consisting of representatives from Cyprium and Sentynl. The announcement was made after market hours yesterday, 24 February 2021.
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