US & Canada licensing agreement
with Eton Pharmaceuticals
for Crossject’s ZENEO® Hydrocortisone
- Exclusive licensing, distribution and promotion agreement in the US and Canada with Eton
- Eton is focused on developing and commercializing innovative pharmaceutical products in endocrinology
- Pre-marketing payments to Crossject of $5M USD
- On commercial launch Crossject will supply Eton for a price per unit, and receive 10% royalties on Eton’s net sales, plus up to $6M USD in 3 commercial milestones
Dijon, 15 June 2021
CROSSJECT (ISIN: FR0011716265; Ticker: ALCJ), a specialty pharma company that develops, and will soon market, a portfolio of drug device combinations for use in emergency situations announces the signing of a US & Canada commercial agreement.
Patrick Alexandre, CEO of Crossject, said: ‘‘We are proud to announce a sound commercial agreement for ZENEO® Hydrocortisone in the US and Canada with an American leader in Adrenal Insufficiency. Eton has successfully established strong relations with the patient communities and medical specialists that are its core focus. ZENEO® Hydrocortisone answers a medical need. This strong partnership will contribute to saving lives by bringing to patients and their families a modern autoinjection possibility.’’
Sean Brynjelsen, CEO of Eton Pharmaceuticals, said: ‘‘The ZENEO® autoinjector is a revolutionary delivery system and this product is a terrific strategic fit with our current adrenal insufficiency business. Patients, advocacy groups, and physicians in the adrenal insufficiency community have repeatedly expressed to us the need for a hydrocortisone autoinjector, so we are excited to be partnering with Crossject to bring this product to patients in need.’’
A sound commercial agreement on a key geography
Crossject and Eton Pharmaceuticals signed an agreement for ZENEO® Hydrocortisone in the US and Canada. Under the terms of this agreement, Eton will be responsible for all regulatory and commercial activities, including licensing, regulatory filing fees, distribution, and promotion. The agreement covers the US and Canada, a high market potential geographic area. Crossject will be responsible for the management and expense of development, clinical, and manufacturing activities.
The agreement includes:
- Until Marketing Authorizations are granted: development and regulatory milestones of $5M USD, of which $0.5 M USD paid to CROSSJECT upon signing and $0.5M USD escrowed; the other milestones are expected over the next 3 years ;
- Crossject will receive (i) a mid-double-digit price for each ZENEO® Hydrocortisone supplied to Eton ; and (ii) 10% royalties based on Eton’s net sales ; and (iii) sales milestones of up to $6M USD subject to 3 thresholds in Eton annual net sales.
ZENEO® Hydrocortisone, a response to an unmet medical need
The ready to use ZENEO® Hydrocortisone will provide a 2-step rescue kit developed for a simple and intuitive autoinjection even by non healthcare professionals.
Adrenal crisis, also known as acute adrenal insufficiency, is a potentially life-threatening rare medical condition requiring immediate emergency treatment. Patients and caregivers are currently trained by healthcare professionals to use a rescue kit with 15 steps prior to starting injection. ZENEO® Hydrocortisone will provide an easy-to-use and quick rescue kit to patients and their caregivers.
About Eton Pharmaceuticals
Eton Pharmaceuticals, Inc. (Nasdaq: ETON) is a specialty pharmaceutical company focused on developing and commercializing innovative treatments for rare pediatric diseases. Eton currently owns or receives royalties from three FDA-approved products, including ALKINDI SPRINKLE®, an orphan-drug status corticosteroid indicated as replacement therapy in pediatric patients with adrenal insufficiency, Biorphen®, and Alaway Preservative Free®, and has six additional products submitted to the FDA.
About CROSSJECT • www.crossject.com
Crossject (ISIN: FR0011716265; Ticker: ALCJ; LEI: 969500W1VTFNL2D85A65) is developing and is soon to market a portfolio of drugs dedicated to emergency situations: epilepsy, overdose, allergic shock, severe migraine and asthma attack. Thanks to its patented needle-free self-injection system, Crossject aims to become the world leader in self-administered emergency drugs. The company has been listed on the Euronext Growth market in Paris since 2014, and benefits from Bpifrance funding