Almirall and Bicosome collaborate on drug delivery formulations

Spain’s largest drugmaker Almirall (ALM: MC) and Bicosome, a start-up company that develops and commercializes high performance cosmetic and dermopharmaceutical ingredients,have entered into a research, collaboration and sublicense agreement for the development of multiple topical dermatological products, based upon Bicosome's proprietary patented delivery technology platform, Bicosome Technology.

Under the agreement, Bicosome will be responsible for the research activities to deliver preclinical product prototypes using its proprietary encapsulating system and Almirall will perform the clinical development, regulatory filings, manufacturing and commercialization activities of the developed products.

As part of the collaboration, Bicosome grants Almirall a sublicense to develop and commercialize products in certain dermatological indications. Bicosome will receive research payments and is entitled to potential development milestone payments as well as tiered royalties on future Net Sales and sales milestones. Further financial terms were not disclosed.