Pharma Focus Europe

PolyPid Announces Exclusive Licensing Agreement with ADVANZ PHARMA for the Commercialization of D-PLEX₁₀₀ in Europe

Thursday, August 04, 2022

PolyPid Ltd., a late-stage biopharma company aiming to improve surgical outcomes, today announced that it has entered into an exclusive licensing agreement with ADVANZ PHARMA Corp., a UK-based global specialty and hospital pharmaceutical company, for the commercialization of its lead drug candidate, D-PLEX100 for the prevention of surgical site infections (“SSIs”) in abdominal and cardiac surgeries, in Europe.

Under the terms of the agreement, PolyPid will receive an upfront payment immediately upon signing and additional development-related milestones for a total of up to $23.5 million as follows: upfront payment of $2.6 million, up to $12.5 million contingent upon positive top-line results of SHIELD I Phase 3 study and additional development-related milestones of up to $8.4 million. Upon commercialization, PolyPid will receive up to $89 million in sales-related milestones. In addition, the Company will also supply D-PLEX100 to ADVANZ PHARMA for a transfer price and will be entitled to royalties on net sales in double-digit percentages of up to mid-twenties.

“We are very pleased to collaborate with ADVANZ PHARMA to commercialize D-PLEX100 in Europe,” stated Dikla Czaczkes Akselbrad, PolyPid’s Chief Executive Officer. “ADVANZ PHARMA’s expertise in marketing hospital-based therapies, combined with its significant resources and relationships in the region, will prove invaluable in expanding access to D-PLEX100 and delivering this much-needed therapy, if approved, to patients. We are also in active discussions with multiple large and mid-size potential strategic partners, all with significant presence and experience selling in hospitals and operating rooms, to potentially commercialize D-PLEX100 in additional geographies.”

Steffen Wagner, Chief Executive Officer of ADVANZ PHARMA, commented: “We are very excited by the potential of D-PLEX100 to effectively prevent SSIs and improve patient outcomes. D-PLEX100 is expected to be an important growth driver for ADVANZ PHARMA. The collaboration with PolyPid is in line with our strategy for the commercialization of specialty and hospital pharmaceuticals in Europe.”

PolyPid recently announced the completion of enrollment of its SHIELD I Phase 3 study of D-PLEX100 for the prevention of SSIs in abdominal surgery, with top-line results expected by the end of the current quarter.

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