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Crescita Announces Licensing Agreement for Pliaglis® in China
Crescita Announces Licensing Agreement for Pliaglis® in China Canada NewsW...
About this update from Crescita Therapeutics, Inc.
[{"type":"text","content":"\n \n \n \n Crescita Announces Licensing Agreement for Pliaglis® in China\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n LAVAL, QC, Nov. 5, 2020\n \n \n \n \n LAVAL, QC,\n \n Nov. 5, 2020\n \n /CNW Telbec/ - Crescita Therapeutics Inc. (TSX: CTX) (OTC US: CRRTF) (\"Crescita\" or the \"Company\"), a growth-oriented, innovation-driven Canadian commercial dermatology company with in-house research & development (\"R&D\") and manufacturing capabilities, today announced that it has entered into an exclusive agreement with Juyou-Biotechnology Co. Ltd (\"Juyou\"),  a biotechnology company that develops and sells medical and cosmetic skincare products, for the commercialization and development of Pliaglis\n \n ®\n \n in mainland\n \n China\n \n (the \"License Agreement\").\n \n \n \n \n \n \n \n \n \n Juyou will be responsible for the overall clinical development and regulatory filings for Pliaglis with the National Medical Products Administration (the \"NMPA\", formerly the China State Food and Drug Administration). As part of the License Agreement, Crescita will receive an upfront payment in cash of\n \n US$125,000\n \n and will be eligible for regulatory and sales milestones of up to\n \n US$1.0 million\n \n and\n \n US$1.8 million\n \n . Crescita will supply Pliaglis at a pre-determined price per unit including a profit margin and will also be eligible for double-digit royalties once the product is available for commercial sale.\n \n \n \"We are excited about this new license agreement for Pliaglis in\n \n China\n \n , the third partnering agreement secured over the last three months, in addition to\n \n Austria\n \n and\n \n Mexico\n \n . We see this both as an opportunity to strengthen our geographic presence but to also add a healthy recurring revenue stream in the long-term,\" said\n \n Serge Verreault\n \n , President and CEO of Crescita. \"While the clinical requirements still need to be validated with NMPA, we estimate that the product could be launched as early as 2023 if no additional stu...