Sun Pharma, SPARC ink pact for potential treatment for atopic dermatitis, auto-immune disorders
Sun Pharmaceutical Industries Ltd and Sun Pharma Advanced Research Company (SPARC) on Thursday said they have entered into a worldwide licensing pact for development and commercialisation of a novel molecule which can be used for the potential treatment of atopic dermatitis, psoriasis and other auto-immune disorders
New Delhi: Sun Pharmaceutical Industries Ltd and Sun Pharma Advanced Research Company (SPARC) on Thursday said they have entered into a worldwide licensing pact for development and commercialisation of a novel molecule which can be used for the potential treatment of atopic dermatitis, psoriasis and other auto-immune disorders.
The pact is for the development and commercialisation of novel molecule SCD-044.
"Under terms of the licence agreement, Sun Pharma will pay SPARC an upfront payment of $20 million (over Rs 150 crore)," Sun Pharma and SPARC said in a joint statement.
SPARC will also be eligible to receive up to $125 million (over Rs 947 crore) as milestone payments contingent upon the achievement of clinical, regulatory and sales milestones, as well as tiered royalties on sales," they added.
Sun Pharma & SPARC in licence agreement for SCD-044.
Do note, SCD-044 is a potential treatment for Atopic Dermatitis, Psoriasis pic.twitter.com/mSsxKXA8kj
— CNBC-TV18 (@CNBCTV18Live) May 28, 2020
Sun Pharma will be responsible for the development, regulatory filings, manufacturing and commercialisation of the product globally, the statement said.
"The in-licensing of SCD-044 adds to our specialty pipeline of innovative dermatology products. It also demonstrates our commitment to this important segment with significant unmet medical needs," Sun Pharma Managing Director Dilip Shanghvi said.
SCD-044 may offer an alternative treatment option for patients in this segment who require systemic treatment and may offer benefits in terms of efficacy and safety over existing oral treatments for this population. SCD-044 has the potential to improve the current oral standard of care, he added.
On the development, SPARC CEO Anil Raghavan said, "SPARC is committed to progressing its pipeline to address the needs of patients. We are proud to be partnering with a global organisation with a footprint in auto-immune disorders."
The agreement with Sun Pharma follows the recent announcement that SPARC has acquired Bioprojet SCR's share of rights to SCD-044, the statement said.
While shares of Sun Pharmaceutical Industries closed at Rs 459.25 per scrip on the BSE, up 1.93 percent from its previous close, shares of SPARC closed at Rs 135.15 per scrip on BSE, up 6.71 percent from its previous close.
Under terms of the agreement, Sun Pharma will acquire worldwide rights to tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of $80 million, the companies said in a joint statement.<br />