AmDerma Pharmaceuticals, LLC, and Oculus Innovative Sciences are joining forces to develop and commercialize Oculus’ novel proprietary Microcyn(R) Technology drug compounds for acne and secondary indications.
The exclusive agreement includes licensing of the dermatology compounds in the United States and India, with a first right of refusal for all member states of the European Union, Canada, Brazil and Japan. Oculus retains all rights for the rest of the world.
Oculus received an undisclosed upfront payment, and will receive multiple clinically-based payments upon achievement of several development and regulatory milestones for both acne and secondary indications, as well as future escalating double-digit royalties on net sales of products, according to a press release.
The agreement also memorializes the intent for future joint development of additional dermatological products and indications.
"Microcyn(R) compounds have the potential to bring about significant advancement in the treatment of skin diseases which affect millions of patients, without adding to the growing problem of antibiotic resistance or steroid overuse," says Quinnova president Jeffrey Day.
AmDerma will be responsible for the development costs for the acne formulation as well as other dermatological compounds.
[Source: AmDerma Pharmaceuticals/Quinnova Pharmaceutical]
(Quinnova Pharmaceuticals, Inc., a wholly-owned subsidiary of AmDerma Pharmaceuticals)