UCB, Dermira in Cimzia deal
UCB Group (Euronext:UCB) granted Dermira Inc. (Redwood City, Calif.) exclusive rights to develop Cimzia certolizumab pegol to treat psoriasis in the U.S., Canada and the EU and exclusive rights to commercialize the product in the U.S. and Canada. UCB will retain commercialization rights in the EU. Cimzia has completed Phase II testing for the indication. Dermira, which is responsible for Phase III development, could not be reached for guidance on when Phase III testing is expected to start.
UCB made a $5 million equity investment in Dermira and will invest up to an additional $15 million. Dermira is eligible to receive up to $49.5 million in development and regulatory milestones and up to $40 million in tiered commercial milestones, plus tiered royalties. UCB will record sales and pay Dermira based on sales attributable to dermatologists in the U.S. and Canada. ...