Lipidor extends and expands cooperation with RELIFE
STOCKHOLM, Sweden, 18th October 2023 – Lipidor AB (publ) (Nasdaq First North Growth Market: LIPI) today announces that a new agreement has been reached with RELIFE S.r.l. regarding the company's psoriasis project. The new terms relate to geographic expansion through the addition of the Asia-Pacific region and an updated timeline.
Lipidor has previously signed a license agreement in which Lipidor gives RELIFE S.r.l. exclusive rights to register, market, distribute and sell drug candidates for the treatment of psoriasis in Europe, the CIS countries and Turkey.
RELIFE has now signed an amendment to the existing agreement, to extend the geographical scope of the license to the Asia-Pacific region. The parties have also agreed an updated timeline. The goal is to take the updated, second generation of the company's combination formulation for psoriasis through a phase III study in 2024, and that study results can be presented by the end of that year.
The market for calcipotriol-based topical combination products for psoriasis is expected to amount to approximately SEK 9 billion in 2026. The assessment is that a new combination product has the potential to capture about 15 percent of the market. With the expanded geographical reach, the agreement currently covers around 75 percent of the global market (market data from IQIVA, 2022).
As previously announced, Lipidor will receive a royalty calculated on RELIFE revenues from the combination product. The size of the royalty depends on the level of sales and is estimated to be above 10 percent. In addition to royalties, there are agreed milestone revenues that are paid out when sales volumes are achieved.
"We can confirm that RELIFE shares Lipidor's view on the continued great potential of our psoriasis candidate and it is fantastic to now see such a clear path forward. Of course, I am particularly positive about RELIFE's increased commercial involvement," says Ola Holmlund, Lipidor’s CEO. "This marks a major milestone for us and is incredibly important for the company's future earnings potential."