Santalis Pharmaceuticals partners with TFS for marketing of OTC dermatology products

Feb 26 2014

Santalis Pharmaceuticals Inc., a joint venture with TFS Corporation Ltd., of Australia (ASX: TFC) is pleased to report the execution of an exclusive license agreement with a global pharmaceutical company for the marketing of a number of over-the-counter (OTC) dermatology products containing TFS' sustainably cultivated, pharmaceutical-grade East Indian Sandalwood Oil (EISO). The pharmaceutical partner is exclusively dedicated to dermatology and is a world leader in dermatology products with an extensive product portfolio available in 80 countries. The long-term license agreement provides for upfront and milestone payments and royalties based on product sales. The license agreement anticipates worldwide commercialization of the OTC products, with an initial product launch in the U.S. anticipated at the end of 2014.

In addition to its OTC products, Santalis is developing a range of prescription drug candidates. The company's first prescription drug candidate, a topical formulation of EISO to treat pediatric eczema, is expected to enter the clinic in the US in early 2015.

Dr. Paul Castella, Santalis' CEO, stated, "This agreement is an important milestone for our product and clinical development program, and has been achieved just three years into our joint venture with TFS. The quality of our pharmaceutical partner, their longstanding dedication to patient wellbeing, and their ambitions for the products in the marketplace are a testament to the efficacy and clinical benefit of sustainable sandalwood oil-based products in the treatment of important dermatological conditions."

Mr. Frank Wilson, CEO of TFS said "Santalis' agreement with a leading pharmaceutical partner is the first of many such product opportunities, and validates the value of EISO as a natural ingredient in the rapidly expanding global market for dermatology, which is currently estimated to exceed $20B. Our long term, exclusive supply agreement with Santalis was pivotal to their ability to secure the commitment of a world-class partner."