- Nuance Pharma to develop and commercialize Bentrio(TM) nasal spray in Chinese Mainland, Hong Kong, S.A.R., China, Macau, S.A.R., China and South Korea
- Altamira to receive up to $23.5 million in upfront and milestone payments during initial phase of supply Bentrio(TM) to Nuance
- Altamira to receive royalties on sales following start of local production of Bentrio(TM) by Nuance
Altamira Therapeutics Ltd. (NASDAQ:CYTO), a company dedicated to addressing unmet medical needs through RNA therapeutics, allergy and viral infection protection, and inner ear therapeutics, announced today that it has entered into an exclusive licensing and distribution agreement (the "Agreement") for Bentrio(TM), its nasal spray for protection against airborne viruses and allergens, with Nuance Pharma Ltd. ("Nuance") in Chinese Mainland, Hong Kong, S.A.R., China, Macau, S.A.R., China and South Korea (the "Territory").
Under the terms of the Agreement, Altamira will initially supply Bentrio(TM) to Nuance. Nuance will make an upfront payment of $1 million and pay to Altamira development and commercial milestones of up to $3 million and up to $19.5 million, respectively. Nuance will have the right to register and commercialize Bentrio(TM) in the Territory. In a second stage, Nuance will assume local production of the product for the Territory upon certain milestones. Once Nuance assumes local production of Bentrio(TM), it will pay to Altamira a staggered royalty on net sales in the Territory at a high-single to low-double-digit percentage.
"We are excited to greatly expand the distribution of Bentrio and further enlarge our footprint in Asia through this strategic collaboration with Nuance," said Thomas Meyer, Altamira Therapeutics' founder, Chairman and CEO. "As a fast growing, well capitalized company with a growing portfolio of products specifically for the treatment of respiratory disorders, Nuance is an ideal commercialization partner for this important and dynamic region. We are looking forward to working with the Nuance team to launch Bentrio."
"The prevalence of allergic rhinitis in the Chinese Mainland is particularly high, affecting some 246 million patients[1]," commented Mark G. Lotter, CEO and Founder of Nuance. "In addition, viral infections represent another high-volume opportunity for Bentrio in this region, so we are looking forward to launching this promising therapeutic to patients in the Chinese Mainland; as well as Hong Kong, S.A.R., China, Macau, S.A.R., China and South Korea. Bentrio(TM) fits well with Nuance's continuous strategic focus in respiratory space."
References
[1] https://doi.org/10.4168/aair.2019.11.2.156
About Bentrio(TM)
Bentrio(TM)(AM-301) is a drug-free nasal spray intended for personal protection against airborne viruses and allergens. Upon application into the nose, Bentrio(TM) forms a protective gel layer on the nasal mucosa. This thin film is designed to prevent the contact of viruses or allergens with cells; in addition, the composition serves to bind such particles and help with their discharge and to humidify the nasal mucosa. Together, this is designed to reduce the risk of upper respiratory tract viral infections and promote alleviation of allergic symptoms. In human nasal epithelium cells infected by SARS-CoV-2, Bentrio(TM) was shown to reduce the infectious viral load by more than 99% when used for prevention. Further, Bentrio(TM) was effective in slowing the growth of the viral titer when treatment started only 24 or 30 hours after infection. In allergy, a clinical investigation in a pollen challenge chamber demonstrated a significant reduction in the main symptoms of allergic rhinitis with the protective effect setting in rapidly and lasting for 4 hours.
About Nuance Pharma
Nuance Pharma is a patient-centric and innovation focused biopharmaceutical company, with both clinical and commercial stage assets. Founded b...
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