Diurnal and Citrine sign licensing agreement for Alkindi
pharmafile | January 27, 2021 | News story | Research and Development | Citrine, Diurnal
Diurnal Group has entered into an exclusive licence agreement for its product Alkindi (hydrocortisone granules in capsules for opening) with the specialty pharmaceutical company Citrine Medicine, covering China, Hong Kong, Taiwan, and Macau.
Under the agreement, Diurnal will receive a non-refundable upfront payment of $0.5 million, and will receive $12.75 million in additional cash payments upon achievement of certain regulatory milestones and sales milestones based on annual sales thresholds. The company will also receive tiered royalties on sales ranging from low to mid double-digits.
Citrine is a therapeutics platform that is focused on delivering rare disease drugs to the Chinese market, and aims to develop the first ever rare disease ecosystem in the country. The company will be responsible for obtaining registration for Alkindi as a treatment for paediatric patients in China, and for all commercialisation activities, including pricing and reimbursement. Citrine will initially utilise product from Diurnal’s European supply chain, with an option to establish its own supply chain in China in the future.
Martin Whitaker, CEO of Diurnal, commented: “With the increased focus from the Chinese health authorities on rare diseases in the past few years, we are delighted to have identified Citrine as a partner for Alkindi in China.
“We have been impressed by Citrine’s vision for the creation of a rare disease platform in China and the local development, regulatory, and commercialisation expertise they are able to bring to the programme.
“We believe they are well positioned to maximise the value of Alkindi in this key market. If approved, Alkindi will provide a major breakthrough in China as the only licensed treatment specifically designed for use in children with congenital adrenal hyperplasia, where there is a significant unmet patient need.”
Darcy Jimenez
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