Altana Advises Onxeo in the Divestment of Two Non-Core Oral Pathology Products to Vectans Pharma
22/08/2017 - Articles and publications
Paris, 22 August 2017
Altana advised Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO), a biotechnology laboratory specializing in the development of innovative drugs for the treatment of orphan diseases, in the divestment of two historic products: Sitavig® (labial herpes) and Loramyc® (oropharyngeal candidiasis), to Vectans Pharma, a private laboratory that develops and commercializes drugs for oral pathologies.
Sitavig® and Loramyc® are the first two products developed and registered in Europe and the US by Onxeo’s R&D teams. They are currently licensed to several international distributors or are awaiting market authorization in several key countries.
Onxeo divested to Vectans Pharma all assets relating to the two products (notably patents, regulatory authorizations and outstanding contracts) for an upfront payment of €4 million. The agreement also contains a provision for a potential earn-out payment based on the cumulated worldwide commercial performance of the products. Onxeo will also receive, from its existing partners, most of the expected milestone payments related to predefined regulatory or commercial performance benchmarks.
This operation demonstrates the strategic transformation initiated a few years ago by Onxeo in its aim to become a worldwide leader and pioneer in the rare and orphan cancer sector.
Altana: Jean-Nicolas Soret (Partner), Fabien Pouchot (Counsel) and Vincent Guilaine (Associate).
Counsel Vectan Pharma
Almain: Edgard Nguyen (Partner).
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