Crescita sells Pliaglis rights to Taro

25 April 2017

Canada-based dermatology specialist Crescita Therapeutics (TSX: CTX) has entered into a development and commercialization license agreement with the Canadian subsidiary of Taro Pharmaceutical Industries (NYSE:TARO).

Under the terms of the accord, Crescita has granted Taro an exclusive license to the rights to sell and distribute Pliaglis (lidocaine and tetracaine) in the US market and for a second-generation enhanced version with patent pending (the Enhanced Formulation).

In consideration of the rights granted under the Agreement, Taro will make the following payments to Crescita:

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