Nitec Pharma AG, a Switzerland-based pharmaceutical company focused on the development and commercialization of medicines and treatment solutions for chronic inflammation and pain-related diseases, has signed an agreement with Mundipharma International Corporation Limited, a UK-based company engaged in the research, development, manufacturing, and marketing of pharmaceuticals, under which Mundipharma has obtained an exclusive license for the distribution of Lodotra(TM) in Europe, excluding Germany and Austria which are licensed to Merck KGaA.
Lodotra(TM) has been co-developed with SkyePharma and utilizes SkyePharma's proprietary GeoClock(TM) technology for which Nitec holds an exclusive worldwide license for the delivery of glucocorticoids.
Under the agreement, Nitec would receive royalty payments. SkyePharma would receive a mid-single digit percentage royalty on net sales from its partner Nitec Pharma. SkyePharma is manufacturing Lodotra at its plant in Lyon, France.