Paladin gets certain rights to Immuron's Travelan in up to C$117 million deal

Melbourne, Australia-based Immuron (ASX: IMC) and Canada’s Paladin Labs (TSX: PLB) have signed a license and distribution deal under which Paladin receives the exclusive rights to market and sell Travelan in Canada, Latin America (including Brazil, Mexico, Argentina and Colombia),as well as sub-Saharan Africa (including South Africa). Travelan is a novel, over-the-counter medicine that is up to 90% effective in preventing travellers’ diarrhea (TD).

Under the terms of the deal, Paladin receives exclusive rights to commercialize Travelan in the stated territories. In exchange Immuron will receive an upfront payment of C$500,000 ($477,555) and potential sales performance milestone payments over the term of the agreement that can aggregate up to C$115 million. Immuron also retains all production and manufacturing rights and will therefore supply finished packs of Travelan to Paladin for each territory as the product is progressively launched.

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