Business
Crescita Therapeutics Announces Mutual Termination of Licensing Agreement with Croma Pharma GmbH for Pliaglis®
Crescita Therapeutics Inc. ( TSX: CTX and OTC US: CRRTF ) (“ Crescita ”...
About this update from Crescita Therapeutics, Inc.
[{"type":"text","content":"Crescita Therapeutics Announces Mutual Termination of Licensing Agreement with Croma Pharma GmbH for Pliaglis®\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n \n\n\n\n Crescita Therapeutics Inc. (\n \n TSX: CTX\n \n and\n \n OTC US: CRRTF\n \n ) (“\n \n Crescita\n \n ” or the “\n \n Company\n \n ”), a growth-oriented, innovation-driven Canadian commercial dermatology company with in-house R&D and manufacturing capabilities, today announced that it has, by mutual agreement, terminated its commercialization and development license agreement with CROMA Pharma GmbH (“Croma”), that granted Croma exclusive rights to market Pliaglis\n \n ®\n \n in Germany, the United Kingdom, Ireland, Switzerland, Brazil, Romania, Belgium, the Netherlands and Luxembourg (the “Territories”).\n \n\n Following a strategic business review, Croma decided to rationalize its product portfolio and realign its business priorities. Under the terms of the termination agreement, Crescita will regain all development and commercialization rights for Pliaglis in the Territories, and Croma will pay the Company €575,000 (approximately CAD$900,000). Crescita plans to explore potential new partnerships to commercialize Pliaglis in the Territories.\n \n\n\n About Crescita Therapeutics Inc.\n \n\n\n Crescita (TSX: CTX and OTC US: CRRTF) is a growth-oriented, innovation-driven Canadian commercial dermatology company with in-house R&D and manufacturing capabilities. The Company offers a portfolio of high-quality, science-based non-prescription skincare products and early to commercial stage prescription products. We also own multiple proprietary transdermal delivery platforms that support the development of patented formulations to facilitate the delivery of active ingredients into or through the skin. For more information visit,\n \n www.crescitatherapeutics.com\n \n .\n \n\n\n Forward-looking Information\n \n\n\n Certain statements in this press release constitute forward-looking statements and/or forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws. All information in this press release, other than statements of current and historical fact, represents...