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Cipher Pharmaceuticals Acquires Exclusive Canadian Rights to MOB-015 from Moberg Pharma for the topical treatment of Onychomycosis
Cipher Pharmaceuticals Acquires Exclusive Canadian Rights to MOB-015 from Moberg Pharma fo...
About this update from Cipher Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCipher Pharmaceuticals Acquires Exclusive Canadian Rights to MOB-015 from Moberg Pharma for the topical treatment of Onychomycosis\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA,ON, Sept. 18, 2018\n\n\n\nTransaction broadens Cipher's Canadian portfolio providing entry into rapidly growing market \n MISSISSAUGA,ON, Sept. 18, 2018 /CNW/ - Cipher Pharmaceuticals Inc. (TSX:CPH) today  announced it has acquired the exclusive Canadian rights to commercialize, promote, sell and distribute MOB-015 from Moberg Pharma (OMX:MOB) (\"Moberg\"). MOB-015 is a topical formulation of terbinafine for treatment of onychomycosis, a common and destructive nail infection caused predominately by dermatophyte fungi.  \nIn Canada, according to IMS, the total prescription market for Onychomycosis was $58M CDN in 2017, 72% of which were topical drugs, growing steadily at 18.3% in 2017 and at a CAGR of 25.4% for the period 2014-2017.\n\"We are excited at the prospect of bringing an innovative topical product to market that would provide a new safe and effective treatment option for the many Canadians who suffer from onychomycosis,\" said Robert Tessarolo, President and CEO of Cipher. \"The addition of MOB-015 represents our sixth transaction of the year and demonstrates the continued execution of our growth strategy as we build a pipeline of diversified and differentiated near term products for the Canadian market.\"\n\"The license agreement with Cipher is a key step in preparing the global launch of MOB-015 and it confirms the significant market potential for our product. Cipher has excellent capabilities to make MOB-015 a success in Canada. We look forward to this exciting partnership and continue to progress commercialization plans in other key markets as we approach Phase 3 results,\" says Peter Wolpert, Moberg's CEO.\nUnder the terms of the licensing agreement, Moberg will receive an upfront payment of USD$0.5 million and is eligible for USD$14.1 million in development and regulatory milestones includi...