some Norgine stuff to think about:
well, this is not directly about NAVB, but it stirred up two conclusions on „our distributor“:
our distributor is willing to pay decent upfront (11 mil brit pounds equals 14.4 mil $) if they see value (even if it is just a simple treatment of iron deficiency, not a high-tech radiopharmaceutical)
our distributor is willing to disclose the detailed terms of the deal
and it further raises two questions:
what value does our distributor see in our radiopharmaceutical?
as Norgine is willing to disclose the terms of a deal, who is responsible that our „deal“ was not disclosed to the interested public and why did our deal did not include "sales milestones upon the achievement of specified targets"?
Shield Therapeutics and Norgine B.V. (Norgine) enter into an exclusive licence agreement for the commercialisation of Feraccru® in Europe, Australia and New Zealand
• Shield to receive an £11 million upfront licence payment
• Up to €54.5million in development and sales milestones, together with royalties ranging from 25% to 40%
• Shield retains full commercial rights to Feraccru® in all unlicensed countries including the USA
London, UK, 19 September 2018:
Shield Therapeutics plc (LSE:STX), a commercial stage, pharmaceutical company delivering innovative specialty pharmaceuticals to address patients’ unmet medical needs and Norgine, a leading European specialist pharma company, today announced that they have entered into an exclusive licence agreement in Europe, Australia and New Zealand by which Norgine will commercialise Feraccru®, Shield’s approved product for the treatment of iron deficiency in adults.
Under the terms of the agreement, Shield will receive an immediate £11 million upfront payment, is eligible to receive up to €4.5 million in short-term development milestones and up to €50 million in sales milestones upon the achievement of specified targets. Shield will also receive tiered royalties ranging from 25% to 40% of net sales of Feraccru®.