A drug to prevent surgical site infections (SSIs) in abdominal and cardiac surgeries in Europe is to be commercialized after two companies entered an exclusive licensing agreement.
Israel-based PolyPid Ltd and UK-based ADVANZ PHARMA Corp. announced the agreement for lead drug candidate D-PLEX100 yesterday (August 3).
Under the terms of the agreement, PolyPid will receive an upfront payment immediately upon signing. It will receive additional development-related milestones for a total of up to $23.5 million: An upfront payment of $2.6 million, up to $12.5 million, contingent upon positive topline results of a SHIELD I phase 3 study, and additional development-related milestones of up to $8.4 million is also expected to be exchanged.
Steffen Wagner, CEO at ADVANZ PHARMA, said: “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.”
When D-PLEX100 is commercialized,
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