TIDMSTX
RNS Number : 4347X
Shield Therapeutics PLC
05 January 2022
Shield Therapeutics plc
("Shield" or the "Company" or the "Group")
Licence Agreement in Canada for Accrufer(R)
Exclusive licence agreement with KYE Pharmaceuticals Inc. fo r
development and commercialisation of Accrufer(R)
Deal Highlights:
-- Up to GBP1 million in upfront, development and sales milestones
-- Double-digit royalties on net sales
-- KYE Pharmaceuticals Inc. to be responsible for, and cover
costs of all development and regulatory activity
London, UK, 5 January, 2022: Shield Therapeutics plc (LSE: STX),
a commercial stage specialty pharmaceutical company with a focus on
addressing iron deficiency with its lead product
Accrufer(R)/Feraccru(R) (ferric maltol), announces that it has
entered into an exclusive licence agreement ("the Agreement") for
Accrufer(R) with KYE Pharmaceuticals Inc. ("KYE") in Canada. KYE
will undertake and be responsible for all costs, both clinical and
regulatory, related to activities required to achieve marketing
authorisation and commercialisation of Accrufer(R) in Canada.
Shield will be responsible for all manufacturing costs of goods
sold in Canada.
Shield will receive an upfront payment of GBP150,000 and is
eligible to receive GBP850,000 in development and sales milestones
comprised of a payment of GBP250,000 upon regulatory approval of
Accrufer(R) by Health Canada and up to GBP600,000 in milestone
payments upon the achievement of specified calendar net sales
targets. For the term of the agreement, Shield will also receive
double-digit royalties on net sales of Accrufer(R).
Greg Madison, Chief Executive Officer for Shield, said: "This
Agreement for the development and commercialisation of Accrufer(R)
in Canada gets 2022 off to a great start for Shield. We are
dedicated to growing sales of Accrufer(R)/Feraccru(R) and bringing
this important product to patients around the world with iron
deficiency. Securing a commercial partnership for Canada is an
important part of our strategy and we feel that KYE is the right
partner. We look forward to supporting KYE's efforts to bring
Accrufer(R) to the market in Canada.
"Shield has made significant progress on the commercial launch
of Accrufer(R)/Feraccru(R) over the last 12 months by implementing
important geographic partnerships and successfully securing payer
coverage with several large pharmacy benefit managers. We look
forward to continuing to expand the awareness of
Accrufer(R)/Feraccru(R) among healthcare professionals in
2022."
Doug Reynolds, President of KYE, commented: "Iron deficiency is
highly prevalent worldwide and a public health concern in Canada.
Accrufer(R) will be the first oral prescription only therapy
available in Canada to treat patients who continue to suffer from
low iron despite attempts at treatment with currently available
agents. This agreement is very much aligned with our strategy to
bring innovative medicines to the people of Canada and KYE is proud
to be partnering with Shield. We look forward to bringing
Accrufer(R) to the Canadian market in the near future."
For further information please contact:
Shield Therapeutics plc www.shieldtherapeutics.com
Greg Madison, CEO +44 (0) 191 511 8500
Hans-Peter Rudolf, CFO
Nominated Adviser and Joint
Broker
Peel Hunt LLP
James Steel/Christopher Golden +44 (0)20 7418 8900
Joint Broker
finnCap Ltd
Geoff Nash/Alice Lane/George
Dollemore +44 (0)20 7220 0500
Financial PR & IR Advisor
Walbrook PR (UK Advisor)
Paul McManus/Lianne Applegarth/Alice +44 (0)20 7933 8780 or shield@walbrookpr.com
Woodings
Investor Contact (US Advisor)
LifeSci Advisors, LLC
John Mullaly +1 617 429 3548 or jmullaly@lifesciadvisors.com
About Shield Therapeutics plc
Shield is a commercial stage specialty pharmaceutical company
with a focus on addressing iron deficiency with its lead product
Accrufer(R)/Feraccru(R) (ferric maltol), a novel, stable, non-salt
based oral therapy for adults with iron deficiency with or without
anaemia.
Shield's lead product, Accrufer(R)/Feraccru(R), has been
approved for use in the United States, European Union, UK,
Switzerland, and Australia and has exclusive IP rights until the
mid-2030s. The Group has recently launched Accrufer (R) in the US.
Feraccru(R) is being commercialised in the UK and European Union by
Norgine B.V., who also have the marketing rights in Australia and
New Zealand. Shield also has an exclusive license agreement with
Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and
commercialisation of Accrufer(R)/Feraccru(R) in China, Hong Kong,
Macau, and Taiwan, and with Korea Pharma Co., Ltd. in the Republic
of Korea.
For more information, please visit www.shieldtherapeutics.com .
Follow Shield on Twitter @ShieldTx
About KYE Pharmaceuticals Inc.
KYE Pharmaceuticals is a private company headquartered in Canada
focused on bringing medications to the Canadian market which
fulfill clinically significant and unmet needs. KYE has licensed
many innovative products and was founded on an entrepreneurial
spirit that optimizes our team's strengths and brings unique value
to our partners, Canadian healthcare professionals, and most
importantly, its patients.
For more information, please visit www.kyepharma.com.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements contained in this press release that do not relate to
matters of historical fact should be considered forward-looking
statements. These forward-looking statements are based on
management's current expectations and include statements related to
the commercial strategy for Accrufer(R)/Feraccru(R) These
statements are neither promises nor guarantees, but involve known
and unknown risks and uncertainties, many of which are beyond our
control, that may cause actual results, performance or achievements
to be materially different from management's expectations expressed
or implied by the forward-looking statements, including, but not
limited to, risks associated with, the Group's business and results
of operations, competition and other market factors. The
forward-looking statements made in this press release represent
management's expectations as of the date of this press release, and
except as required by law, the Group disclaims any obligation to
update any forward-looking statements contained in this release,
even if subsequent events cause our views to change.
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END
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(END) Dow Jones Newswires
January 05, 2022 02:00 ET (07:00 GMT)
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