Sigmoid Enters Into a License Agreement with Pendopharm
News Oct 07, 2014
Sigmoid Pharma Limited and Pendopharm have entered into agreements concerning a license for exclusive rights to commercialize CyCol® in the Canadian market and an equity investment in Sigmoid.
Under the license agreement, Sigmoid has received an upfront payment and will be eligible for future milestone payments in addition to significant double-digit, tiered royalties on net sales in Canada. Pursuant to the license agreement, Pendopharm has invested EUR 5 million in Sigmoid at a premium to the most recent fundraising in 2014.
The investment will support the advancement of CyCol® into Phase 3 clinical trials; mainly the scale up of Sigmoid’s manufacturing process for CyCol® and the underlying SmPill® drug delivery technology. David Goodman, CEO of Pharmascience Inc. will join the Sigmoid board of directors.
Dr Ivan S. Coulter, CEO and Founder of Sigmoid, commented: “We are delighted to enter into this important collaboration with Pendopharm. I welcome David to the board and look forward to the expertise and insight he brings. We believe CyCol® has significant potential to treat unmet clinical needs in ulcerative colitis and that Pendopharm, through its existing and growing franchise in the GI therapeutic area, is strongly positioned to maximize the potential of our lead product in Canada. We are confident that this license agreement will be the first of a number of important strategic collaborations to be announced in relation not only to CyCol®, but also to the broadly-applicable SmPill® drug delivery technology.”
Dr David Goodman, CEO of Pharmascience Inc. added: “We are very pleased to be working with Sigmoid to bring CyCol® to Canada. CyCol® is a strategic fit with our GI franchise, and brings another innovative product to the Pendopharm portfolio with attractive therapeutic benefits for patients.”
Study Extends Potential of Personalized Cell-based ImmunotherapiesNews
New methods developed for the study could be applied to devise personalized, cell-based immunotherapies for epithelial ovarian cancer or other types of tumorsREAD MORE
Hope for Hot Flushes: New Class of Menopause Drugs Reduces SeverityNews
A new class of experimental drugs reduces hot flushes in menopausal women by almost three-quarters in just three days. The new analysis, published in the journal Menopause, also revealed sleep and concentration significantly improved in the three-day window.
Domainex Appoints Dr Bodo Spori as Head of Business Development for EuropeNews
Domainex Ltd, a privately-owned drug discovery services company, is pleased to announce the appointment of Dr Bodo Spori as Head of Business Development for Europe.READ MORE
Comments | 0 ADD COMMENT
World Congress on Clinical And Medical Microbiology
Sep 10 - Sep 11, 2018