French biotechnology company Neovacs has signed an exclusive licence agreement with Centurion Pharma for IFNalpha Kinoid to treat patients with lupus in Turkey.
Based in Ankara, Turkey, Centurion Pharma is a regional pharmaceutical company focused on chronic disease treatments.
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Neovacs chief executive officer Miguel Sieler said: “Centurion Pharma has extensive experience in the vaccine and specialty therapeutic care markets, and we are pleased to leverage their expertise in this area, as well as their strong track record in order to introduce this innovative treatment for lupus in Turkey.
“Our licence agreement with Centurion is representative of our strategy to identify high-quality local partners to support our objective of accelerating the development and commercialisation of our most advanced vaccine, IFNalpha Kinoid.”
Sieler further added that the current deal offers Neovacs the opportunity to monetise the company’s lead asset through an upfront payment and potential milestone payments, in addition to a royalty stream.
Centurion Pharma will enter negotiations with local health authorities to obtain an agreement to market IFNalpha Kinoid on a ‘Named Patients’ programme basis, following the successful completion of Neovacs' Phase IIb clinical trial in lupus.
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By GlobalDataUnder the licence agreement, Neovacs will receive a total amount of €6m, including an upfront payment at signature and additional potential payments based on the achievement of predefined clinical and regulatory milestones.
The company will also receive double-digit royalties on net sales of IFNalpha Kinoid in Turkey.
In addition, the two companies have recently made plans to enter a supply agreement for IFNalpha Kinoid.
