Faron sub-licenses US rights to traumakine patent
Finland-based biotech Faron Pharmaceuticals (LSE: FARN) today revealed that it has signed a sub-license agreement for the rights to US patent US9,376,478, which currently extends to 2033.
The agreement clarifies Faron's intellectual property position in the USA. ahead of any launch of traumakine for the treatment of capillary leak and systemic inflammatory response syndromes (SIRS) including acute respiratory distress syndrome (ARDS) in the USA (subject to marketing approval from the US Food and Drug Administration).
Faron will pay a small signing-fee, as well as single-digit standard market royalties from future sales of its intravenous (IV) IFN beta-1a (traumakine) in the USA. This sub-licence specifically covers a manufacturing patent valid only in the USA (no corresponding patents exist in other countries) and adds to Faron's existing comprehensive patent portfolio for traumakine which includes use and IV formulation patents, as well as market exclusivity in Europe as an orphan medicine.
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