Veloxis, Chiesi in deal for LCP-Tacro

Veloxis Pharmaceuticals A/S (CSE:VELO) granted Chiesi Farmaceutici S.p.A. (Parma, Italy) exclusive rights to commercialize LCP-Tacro tacrolimus in Europe, Turkey and the Commonwealth of Independent States (CIS). Veloxis is eligible for $47.5 million in total upfront and milestone payments, plus double-digit royalties. LCP-Tacro is in Phase III testing to prevent organ rejection in kidney transplant patients. Veloxis plans to submit an NDA to FDA in 2H13 and an MAA to EMA next year. On Friday, Veloxis was up DKK0.05 (15%) to DKK0.39. ...