December 12, 2016 / 10:14 AM / 8 months ago

BRIEF-Almirall and Nuevolution enter into collaboration to develop ROR*t inhibitors

Dec 12 (Reuters) - Nuevolution AB (publ) :

* Almirall and Nuevolution enter into strategic collaboration to develop ROR*t inhibitors for treatment of dermatology diseases & Psoriatic Arthritis

* Parties to establish research collaboration for identification of additional ROR*t inhibitors, with exclusive option for Almirall to use within dermatological field and with optional use outside field of collaboration for Nuevolution

* Almirall will be responsible for funding of its further research as well as pre-clinical, clinical, regulatory and commercial activities

* Nuevolution will be responsible for funding of any of its own research

* Will receive upfront payment of 11.2 million euros ($11.86 million), is eligible to receive development and regulatory milestone payments of up to in total maximum of 172 million euros (about 1.7 billion Swedish crowns) provided successful development provided successful development

* Is also eligible to receive tiered commercial sales milestones of up to in total maximum of 270 million euros (about 2.6 billion Swedish crowns)

* Would further be entitled to receive tiered royalties on future net sales Source text for Eikon: Further company coverage: ($1 = 0.9442 euros) (Gdynia Newsroom)

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