NexMed Licenses Nail Fungus Drug to Novartis
Filed in archive Patents and Intellectual Property Rights on September 16, 2005
Novartis AG gets exclusive worldwide rights to NexMed's proprietary NM100060 nail lacquer treatment for onychomycosis, commonly known as nail fungus. NM100060 is currently in Phase 1 development in the U.S.
Onychomycosis is a fungal infection affecting the toenails and/or fingernails and is one of the most common dermatological diseases affecting an estimated 30 million Americans. The current market for this therapeutic indication is estimated at about $2 billion worldwide.
Of note to investors: Shares of NexMed Inc. hit a new 52-week high following the announcement. A playback of a conference call discussing the agreement is available here until Sept. 22. Account # 286 and ID# 169296 are required for access.
Novartis already owns the rights to a similar drug, Lamisil (Terbinafine), whose patents are expiring in 2006, which explains the Novartis' interest in NexMed's nail lacquer.
Read NexMed's press release here.
Photo Credits: SkinSite.com
Permalink: NexMed Licenses Nail Fungus Drug to Novartis
Tags: patent webcast biotech novartis nexmed nail+fungus fungus+drug drug+novartis
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Response from:
James Hatton
(02/11/06 11:12pm)
Response from:
ruth
(02/13/06 10:16am)
thanks for the update, james! i'll just re-post your link for others to see (the comments section doesn't support html):
http://www.jameshatton.com/public/2006/02/nexmednovartis-license-agree
ment.html
http://www.jameshatton.com/public/2006/02/nexmednovartis-license-agree
ment.html
Response from:
Zetaclear
(08/17/08 1:44am)
Wow, I didn't know so many people were affected and so much is being spent on curing nail fungus. I'll definitely post this info on my site, proper credit will be given also.
http://www.homeopathicremediesfor.com/zetaclear-natural-remedy-for-nai
l-fungus.html
http://www.homeopathicremediesfor.com/zetaclear-natural-remedy-for-nai
l-fungus.html
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I was looking back and saw your post on NexMed/Novartis deal, and I decided to check out the terms a little more.
Your readers might be interested to know that NexMed may receive up to $51 million in upfront and milestone payments, including the $4M received at signing.
Although the agreement is a relatively straightforward license, there are some interesting terms. Unusually, each of the milestones is set out in detail, instead of redacted. The terms on royalty reductions are more onerous than usual.
Have a look
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