Presidio out-licenses HCV NS5A inhibitor PPI-668 to Pharco and Ascletis

Privately-held USA-based Presidio Pharmaceuticals has out-licensed its hepatitis C virus (HCV) NS5A inhibitor PPI-668 to Egypt-based Pharco Pharmaceuticals for development and commercialization to treat HCV infection in Egypt. This exclusive license includes an opportunity for Pharco to expand its licensed territory to one or more additional countries in the MENA region.

“This licensing agreement provides Pharco with an opportunity to develop an effective, safe and affordable treatment for Egyptians with HCV infection,” said Sherine Helmy, Pharco Pharmaceuticals vice chairman and chief executive, adding: “We believe that PPI-668, in combination with other therapeutic agents offers another potential path to treat and, hopefully, cure patients.”

Pharco will fund clinical development and commercialization of PPI-668 in Egypt, and potentially the MENA region. Presidio will receive upfront and development milestone payments, as well as tiered royalties based on product net sales in Egypt and potentially the MENA region. Pharco made an equity investment in Presidio related to the license agreement.