September 19, 2011 02:18 AM Eastern Daylight Time
STOCKHOLM–(BUSINESS WIRE)–Regulatory News:
“Meda has proven to be the perfect partner in the Nordic region by quickly making Nalox® into the market leader and we look forward to repeating this success story in several other markets through Meda’s strong sales organization in Europe”
Moberg Derma AB (STO:MOB)(OMX: MOB) and Meda AB have entered into a license agreement covering rights for Nalox® – Moberg Derma’s patented product for the treatment of discolored and damaged nails caused by nail fungus (onychomycosis) or nail psoriasis. Under the agreement, Meda is granted exclusive rights to market and sell Nalox® in a large number of countries in Europe. Moberg Derma assumes production and supply responsibility. over the past year, Meda has made Nalox® market leader in the Nordic region.
the agreement encompasses several major markets, including Germany, France, Spain, United Kingdom, Austria, the Netherlands and Belgium.
as compensation for the exclusivity rights, Meda has agreed to pay a total of SEK 32 million, with SEK 13 million when signing the contract and the remaining SEK 19 million in future milestone payments. in addition, compensation will be paid for delivered products.
“This agreement is a key step in the global launch of Nalox®”, said Peter Wolpert, CEO of Moberg Derma. “Meda has proven to be the perfect partner in the Nordic region by quickly making Nalox® into the market leader and we look forward to repeating this success story in several other markets through Meda’s strong sales organization in Europe”, concludes Wolpert.
About Nalox® and nail disease
Nalox® is a topical treatment used to treat nail disease. Launched in the Nordic region in autumn 2010, it quickly became market leader. Nalox® is a prescription free, over-the-counter product sold under the name Emtrix® in certain markets and under the name Kerasal® Nail in the U.S. Safety and efficacy have been demonstrated in several clinical studies including more than 600 patients. Nalox® has a unique and rapid mechanism of action which brings visible improvements within 2-4 weeks of treatment. Nail fungus is the most common nail disease and afflicts approximately 10% of the general population and increasing with age. the estimated global market potential exceeds USD 1 billion. the untapped potential is significant since many patients remain untreated. It is generally recognized that there is a need for new efficacious and safe topical treatments.
About this information
Moberg Derma discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. the information was submitted for publication at 08:00 am (CET) on September 19th, 2011.
About Moberg Derma
Moberg Derma AB (publ), based in Stockholm, develops patented topical pharmaceuticals for the treatment of common disorders through the use of innovative drug delivery. the company’s products are based on proven compounds, which reduce time to market, development costs and risk. Moberg Derma’s first product Nalox®/Emtrix® – for nail disorders – became the Nordic market leader directly after launch in autumn 2010 and international launch is ongoing. the portfolio includes approved and launched products to projects in the preclinical and clinical phase. the company began operations at the Karolinska Institute in Stockholm in 2006. the share of Moberg Derma is quoted on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.mobergderma.com
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