Gedeon Richter acquires rights to Mycovia's for VT-1161
USA-based Mycovia Pharmaceuticals has entered into an exclusive license and development and technology transfer agreement with Hungary's largest drugmaker Gedeon Richter (RICHT: HB) to commercialize and manufacture VT-1161 (otesaconazole) in Europe, Latin America, Australia, Russia and other CIS countries.
VT-1161, an oral antifungal product candidate, is currently in Phase III clinical trials for the treatment of recurrent vulvovaginal candidiasis (RVVC), a debilitating, chronic infectious condition that affects nearly 138 million women worldwide each year.
With this partnership, Mycovia is eligible to receive milestone payments related to clinical, regulatory and commercial success of the product. Further financial details are not disclosed.
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