Brief: Epi Health, A Novan Company, Enters Into Exclusive License Agreement With Sato Pharmaceutical For Rhofade® In Japan

NVN Liquidation

21/12/2022 13:06

Dec 21 (Reuters) - Novan Inc  NOVN.O :
    * EPI HEALTH, A NOVAN COMPANY, ENTERS INTO EXCLUSIVE LICENSE
AGREEMENT WITH SATO PHARMACEUTICAL CO., LTD. FOR RHOFADE® IN
JAPAN
    * EPI HEALTH WILL RECEIVE AN UPFRONT PAYMENT OF $5.0
MILLION, A
$2.5 MILLION MILESTONE PAYMENT AT TIME OF MARKETING APPROVAL IN
JAPAN
    * UNDER EXCLUSIVE LICENSE AGREEMENT, EPI HEALTH WILL RECEIVE
ROYALTY PAYMENTS ON NET SALES OF PRODUCT IN JAPAN
    * SATO WILL BE RESPONSIBLE FOR OBTAINING REGULATORY APPROVAL
IN
JAPAN AND WILL HAVE RIGHT TO ACCESS EPI HEALTH'S U.S. DOSSIER
FOR RHOFADE
    * SATO WILL ALSO HAVE A RIGHT OF FIRST NEGOTIATION RELATED
TO
RHOFADE IN CERTAIN OTHER COUNTRIES IN ASIA PACIFIC REGION
    * PORTION OF AMOUNTS OF UPFRONT & MILESTONE PAYMENTS ARE
PAYABLE
BY EPI HEALTH TO A THIRD PARTY UNDER CONTRACTUAL OBLIGATIONS
RELATED TO RHOFADE

Source text for Eikon:  ID:nGNX5BdvvQ 
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 ((Reuters.Briefs@thomsonreuters.com))