License agreement in the United States and Canada
with And we Medicines
for Crossject ZENEO® Hydrocortisone
- Exclusive license, distribution and promotion agreement in the United States and Canada with Eton
- Eton focuses on the development and commercialization of innovative pharmaceutical products in endocrinology
- Pre-market payments to Crossject of US $ 5 million
- Upon commercial launch, Crossject will supply Eton at a unit price and receive 10% royalty on Eton’s net sales, plus up to US $ 6 million in 3 commercial stages
Dijon, June 15, 2021
CROSSJECT (ISIN: FR0011716265; Ticker: ALCJ), a specialty pharmaceutical company that is soon developing and will market a portfolio of drug device combinations for use in emergency situations announces the signing of a trade agreement between the United States and Canada.
Patrick Alexandre, CEO of Crossject, said: ”We are proud to announce a strong commercial agreement for ZENEO® Hydrocortisone in the United States and Canada with a United States leader in adrenal insufficiency. Etonne has successfully established solid relationships with patient communities and medical specialists who are at the heart of its concerns. ZENEO® Hydrocortisone meets a medical need. This strong partnership will help save lives by providing patients and their families with a self-injection possibility. ”
Sean Brynjelsen, CEO of Eton Pharmaceuticals, said: ”the ZENEO® auto-injector is a revolutionary delivery system and this product fits perfectly into our current adrenal insufficiency business. Patients, advocacy groups and physicians in the adrenal insufficiency community have repeatedly expressed the need for hydrocortisone to us. auto-injector, so we are delighted to partner with Crossject bring this product to patients in need.”
A solid trade agreement on a key geography
Crossject and Eton Pharmaceuticals have signed an agreement for ZENEO® Hydrocortisone in the United States and Canada. Under this agreement, Eton will be responsible for all regulatory and commercial activities, including licensing, regulatory filing fees, distribution and promotion. The agreement covers the United States and Canada, a geographic area with strong market potential. Crossject will be responsible for the management and expenses of development, clinical and manufacturing activities.
The agreement includes:
- Until the marketing authorizations are granted: development and regulatory milestones of 5 M USD, of which 0.5 M USD paid to CROSSJECT upon signing and 0.5 M USD sequestered; the other milestones are expected over the next 3 years;
- Crossject will receive (i) a double-digit average price for each ZENEO® Hydrocortisone supplied to Eton; and (ii) 10% royalty based on Eton’s net sales; and (iii) sales milestones of up to US $ 6 million subject to Eton’s 3 annual net sales thresholds.
ZENEO® Hydrocortisone, an answer to an unmet medical need
The ready-to-use ZENEO® Hydrocortisone will provide a 2-step rescue kit developed for simple and intuitive self-injection even by non-healthcare professionals.
Adrenal crisis, also known as acute adrenal insufficiency, is a rare, life-threatening medical condition requiring immediate emergency treatment. Patients and caregivers are currently trained by healthcare professionals to use a 15-step first aid kit before starting the injection. ZENEO® Hydrocortisone will provide an easy to use and rapid first aid kit for patients and their caregivers.
About Eton Pharmaceuticals
Eton Pharmaceuticals, Inc. (Nasdaq: ETON) is a specialty pharmaceutical company focused on the development and commercialization of innovative treatments for rare pediatric diseases. Eton currently owns or receives royalties from three FDA-approved products, including ALKINDI SPRINKLE®, a corticosteroid with orphan drug status indicated as replacement therapy in pediatric patients with adrenal insufficiency, Biorphen® and Alaway Preservative Free®, and submitted six other products to the FDA.
About CROSSJECT • www.crossject.com
Crossject (ISIN: FR0011716265; Mnemonic: ALCJ; LEI: 969500W1VTFNL2D85A65) is developing and will soon market a portfolio of drugs dedicated to emergency situations: epilepsy, overdose, allergic shock, severe migraine and asthma attack. Thanks to its patented needle-free self-injection system, Crossject aims to become the world leader in self-administered emergency drugs. The company has been listed on the Euronext Growth market in Paris since 2014, and benefits from financing from Bpifrance
US-Canada License Agreement with Eton Pharmaceuticals_VENG