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Cipher acquires three dermatology products from Astion Pharma
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Cipher Pharmaceuticals announced it has acquired three products from Astion Pharma that are focused on inflammatory dermatological diseases.
With an upfront payment of $6 million (Canadian) to Astion, a Denmark-based specialty pharmaceutical company, the products were acquired to strengthen Cipher’s dermatology product pipeline, according to a press release.
The products include Dermadexin, a topical barrier-repair cream containing the pharmacologically active ingredient P3GCM. Dermadexin was approved in the European Union (EU) in 2014 as a Class III medical device for treating seborrheic dermatitis. In two placebo-controlled, multicenter trials of 436 patients, the repair cream displayed a statistically significant effect on facial seborrheic dermatitis symptoms, according to the release.
The second acquired product is Pruridexin, a topical cream for treating chronic pruritus, which was submitted to the European Medicines Agency in 2014 as a Class III medical device with response expected in the first half of 2015. Two placebo-controlled trials of 352 patients showed use of Pruridexin cream had a statistically significant effect on pruritus that increased over time.
The third product is an investigational product candidate for treating discoid lupus erythematosus, ASF-1096, which has received orphan drug status in the EU.
A subsequent $2.5 million (Canadian) milestone payment is to be paid upon regulatory approval and commercialization of Dermadexin and Pruridexin in the United States, a focus of Cipher’s commercialization efforts. There are also $31.5 million (Canadian) in additional payments, which are contingent upon clinical milestones, regulatory approvals and commercialization and sales milestones in the U.S. and other regions, according to the release.
Reference: www.cipherpharma.com.