Klaria signs agreement for EU grant worth ca. 21 MSEK to take migraine product to market

Klaria Pharma Holding AB (publ) announces that the company has finalized and signed the agreement for the grant of 21 MSEK in total from the EU Horizon 2020 program. The grant will, as announced earlier, be used to finalize the development and commerzialisation of KL-00119, the company’s leading candidate for treatment of acute migraine-related pain.

The EU grant, with agreement number 829615, is expected to cover the costs for all of the remaining activities in the KL-00119 project up to and including a potential market registration in Europe, the United States and Canada. The remaining registration study that is required before market registration applications can be submitted is planned to be initiated in 2019, and it is expected to be finalized during the first half of 2020.

“Now that the payments from this grant are starting, we have secured the financing to be able to take Klaria’s leading and very competitive project for treatment of acute migraine-related pain all the way to market on our own. Our goal is to sign license agreements with one or several strategic partners with strong distribution channels after market registration, when we have reached a valuable negotiation position,” says Klaria’s CEO Scott Boyer.

AboutKL-00119 for migraine-related pain
KL-00119, Klaria’s leading candidate for treatment of acute migraine-related pain, is developed based on the company’s patented drug delivery platform that makes it possible to quickly, comfortably and reliably transport active substances into the blood stream by attaching a stamp-sized film in the oral mucosa. With these properties, combined with the active substance sumatriptane that has been proven to be effective against migraine-related pain, KL-00119 has strong merits to be developed into a competitive product.  

About migraine and migraine-related pain
Approximately 12 percent of the world's population is affected by migraines, that often take the form of acute pain episodes. The host market for prescription migraine drugs amounts to between 4 and 5 billion dollars annually, and this number is expected to rise sharply in the future.

Information conveyed for public disclosure by the contact person named herein, 26 October 2018 kl. 08:30 CET.

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