Almirall partners with US firm on actinic keratosis candidate
Spain’s largest drugmaker Almirall (ALM: MC) has linked up with US biopharma company Athenex (Nasdaq: ATNX) to further develop and commercialize KX-391 for the treatment of actinic keratosis and other skin conditions.
Subject to the terms and conditions of the license agreement, Athenex will grant to Almirall an exclusive license under the Athenex IP to research, develop and commercialize KX2-391 in the USA and European countries, including Russia.
Despite the fact that the deal – announced late on Monday - will net Athenex at last $55 million, the US firm’s shares were down 9.7% at $14.41 at close of trading, though recovered slightly to $14.68 after-hours. Almirall was barely changed this morning,
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