Santhera Closes License-Back Deal with Takeda For European Rights to Catena in Duchenne Muscular Dystrophy
Santhera Pharmaceuticals announced that it reached an agreement with Takeda to license back previously granted European rights to Catena® (INN: idebenone) in Duchenne muscular dystrophy (DMD). In a back-loaded deal, Santhera regains European commercialization rights for Catena®. The drug is currently being investigated in a Phase III study in DMD conducted in Europe and in the USA.
In 2007, Takeda Pharmaceutical Company Limited acquired the exclusive marketing rights in Europe and Switzerland for Catena® for the treatment of DMD. Under the agreement Santhera licenses back all such previously granted rights to increase its strategic flexibility. In return, Takeda is eligible to obtain a percentage from future licensing and/or sales income generated by Santhera in DMD. In addition, Santhera has obtained the right to cross-reference Takeda's idebenone data for regulatory use in any indication in any territory. If Santhera makes use of such cross-reference right, Takeda is eligible to obtain a percentage from future licensing and/or sales income generated by Santhera in such indications. Lastly, both companies agreed to terminate a similar agreement for Friedreich's Ataxia signed in 2005 and Santhera's previously disclosed contingent liability of EUR 1 million payable to Takeda has been waived. Takeda is eligible to receive Euro 1 million as a percentage from future income generated by Santhera to offset this waiver.
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