Almirall in-licenses drug from Patagonia for congenital ichthyosis

23 July 2016

Spain’s leading drugmaker Almirall (ALM: MC) has entered through USA-based Aqua into a global licensing agreement with Patagonia Pharmaceuticals, a specialty US company developing innovative prescription therapies for rare dermatological diseases.

Under the terms of the accord, Almirall gains rights for the development and commercialization of PAT-001, a new medicinal treatment containing isotretinoin entering into Phase II clinical studies for patients with congenital ichthyosis in fourth-quarter 2016. The news saw Almirall’s shares rise just over 1% to 13.45 euros on Friday.

Based on the license agreement, Almirall and Patagonia will jointly conduct development activities and Almirall will acquire global rights to commercialize PAT-001 in congenital ichthyosis together with any future dermatology indications. In addition, other products could be developed based on existing related Patagonia intellectual property.

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