Esteve signs a licensing agreement with Eton Pharma

Family-controlled Spanish pharma company Esteve has signed a license and supply agreement with Eton Pharmaceuticals (Nasdaq: ETON) for global rights to Increlex (mecasermin), except for USA, paying an upfront of 4 million euros ($4.3million). Eton’s shares dipped 2.5% to $12.65 following the announcement.

This biologic product, the first biologic in Esteve portfolio, is used for the long-term treatment of growth failure in patients aged two to 18 years due to a condition known as 'severe primary insulin-like-growth-factor-1 deficiency' (SPIGFD). Patients with this condition have low levels of the hormone insulin-like growth factor-1 or IGF-1, which is required for normal growth.

"As a rare disorder, patients suffering SPIGFD, often face difficulties associated with receiving a late correct diagnosis, with consequent delayed treatment initiation with limited access to appropriate therapy. This has a considerable impact on the physical health and quality of life of these patients. The disease awareness and the multidisciplinary approach are critical to improve those people's lives. This standard of care medicine is perfectly aligned with our strategy, focused on highly specialized treatments for high unmet medical and patient needs," commented José María Giménez Arnau, chief scientific and medical officer of Esteve.