LONDON - Shield Therapeutics (LON:STXS) plc (LSE:STX), a pharmaceutical company specializing in treatments for iron deficiency, has announced an exclusive licensing agreement with VITAL-NET, Inc. for the commercialization of ACCRUFeR® in Japan. Under the terms of the agreement, Shield will receive an initial payment of approximately $665,000, with additional payments contingent upon regulatory milestones and sales targets.
VITAL-NET, a Japanese corporation, will be responsible for all development, clinical, and regulatory costs associated with obtaining marketing authorization for ACCRUFeR® in Japan. Furthermore, Shield is set to receive double-digit royalties on net sales of the product throughout the duration of the agreement.
The CEO of Shield, Anders Lundstrom, stated that this partnership is in line with the company’s strategy to expand ACCRUFeR®’s global reach, emphasizing the significance of the Japanese market—the world’s third-largest for pharmaceuticals. Lundstrom highlighted the prevalence of iron deficiency in Japan, particularly among women, children, and the elderly, and expressed confidence that ACCRUFeR® will offer an effective treatment option to address this health concern.
Takeshi Ichijo, CEO of VITAL-NET, expressed enthusiasm for the collaboration, noting the importance of addressing iron deficiency in patients with pulmonary hypertension (PH) and inflammatory bowel disease (IBD). Ichijo affirmed VITAL-NET’s commitment to leveraging their expertise to benefit Japanese patients suffering from iron deficiency.
The financial details of the milestones and royalties were not disclosed beyond the initial payment and the reference to double-digit royalties. The agreement signifies an important step for Shield in expanding the availability of ACCRUFeR® and addressing a critical health issue in the Japanese market. This news is based on a press release statement from Shield Therapeutics.
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