BRIEF—TherapeuticsMD and Theramex ink deal to commercialize Bijuva and Imvexxy ex-USA

US drugmaker TherapeuticsMD has entered into an exclusive license and supply agreement with fellow women’s health specialist UK-based Theramex, to commercialize Bijuva (estradiol and progesterone capsules) and Imvexxy (estradiol vaginal inserts) outside of the USA.

Theramex is a portfolio company of CVC Capital Partners.

Theramex will have exclusive commercialization rights for Bijuva and Imvexxy outside the USA, excluding Canada and Israel, for which TherapeuticsMD has licensed both brands to Knight Therapeutics.

Theramex will be responsible for conducting all regulatory and commercial activities in connection with the products in the licensed territories.

Under the terms of the license and supply agreement, Theramex will pay TherapeuticsMD 14 million euros ($15.6 million) in cash as an upfront fee.

TherapeuticsMD is eligible to receive up to an additional 29.5 million euros in cash milestone payments, comprised of:

(i)            an aggregate of 2 million euros in regulatory milestone payments based on regulatory approvals for each of Bijuva and Imvexxy in certain specified markets; and

(ii)            an aggregate of 27.5 million euros in sales milestone payments to be paid in escalating tranches based on first attaining certain aggregate annual net sales milestones in the licensed territories ranging from 25 million euros to 100 million euros.

TherapeuticsMD is also entitled to receive royalty payments on net sales of both products in the licensed territories.