Klaria enters into option agreement with Imbrium Therapeutics for the US market rights of the drug candidate Epinephrine Alginate Film for treatment of Serious Allergic Reactions
Klaria Pharmaceutical’s drug candidate Epinephrine Alginate Film is being developed as a treatment for serious allergic reactions, so called Anaphylactic Shock, as an alternative to currently available treatment options including EpiPenTM.
“The Epinephrine treatments used today are auto-injection pens, originally invented in the mid-1970s. Auto-injector pens are difficult to use and many patients fear using them, especially among the children and their parents who have to use these devices. As a result, there is a risk that the auto-injector pens are used too late in an anaphylactic shock, causing a potentially life-threatening situation to get more difficult to treat. We are developing an oral film that would be easier to use for patients and parents. We are hopeful that our product could thus address the “used too late” issue, as well as many of the other problems with this aged technology” said Jesper Wiklund, CEO of Klaria Pharmaceuticals. “Imbrium’s strong commitment to innovation and solving unmet medical needs for patients make them an ideal partner for us as we undertake this ambitious program,” Mr. Wiklund added.
Imbrium will have the option to obtain an exclusive license for the United States marketing rights to the drug candidate Epinephrine Alginate Film after IND-enabling work for Epinephrine Alginate Film has been completed by Klaria and an IND is ready for filing with the FDA. Klaria has received an upfront option payment of USD 3.5 million (SEK 30 million). Should Imbrium exercise its option, Klaria will be eligible to receive contingent milestone payments with a total value up to USD 66,5 million (SEK 560 million) as well as a double-digit royalty on the United States net sales of Epinephrine Alginate Film.
About Epinephrine Alginate Film (KL-01401)
KL-01401 is an alginate-based oral trans-mucosal film. KL-01401 is the first oral trans-mucosal epinephrine product and is designed to be a significant improvement to all available acute intramuscular injection treatments available to patients today. KL-01401 is a unique molecular dispersion of epinephrine. The KL-01401 film presents epinephrine to the oral mucosal surface in a unique way to allow rapid, consistent absorption without the need for injection. The base film-forming alginate and the epinephrine-containing films have been the subject of comprehensive intellectual property protection, thus ensuring prolonged market exclusivity.
This disclosure contains information that Klaria Pharma Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 22-03-2021 16:49 CET.