Elevar Therapeutics Acquires Worldwide Development and Commercialization Rights for Oasmia’s Apealea

Shots:

  • Elevar to receive $20M up front, ~$678M as milestones based on the company’s achievement regarding the product along with royalties on sales of Apealea globally excluding Nordics, Russia, and certain countries in Eastern Europe
  • The agreement allows Elevar the right to sub-license Apealea to other partners in the EU. Elevar will be responsible for all regulatory activities in its territory, including the submission of the approval application to the FDA in the US
  • Additionally, Elevar and Oasmia developed a joint development committee for Apealea to expand its approvals in Ovarian cancer globally while exploring its news indications. Oasmia will remain in sole control over and will continue to develop, its proprietary technology platform XR17, for use with active pharmaceutical ingredients other than paclitaxel

Source 1, Source 2 ­to­ read full press release/ article | Ref: Oasmia, Elevar | Image: Oasmia