Helsinn, Pharmacosmos sign license agreement for commercialization of Monofer in the US

Jan 8 2015

Helsinn Group and Pharmacosmos A/S today jointly announce that they have entered into an agreement for the exclusive US commercialization rights to Monofer^®, an innovative intravenous iron replacement therapy under development for the treatment of Iron Deficiency Anemia.

Agreement highlights:

Helsinn has obtained the exclusive rights to commercialize Monofer^® and any other iron isomaltoside 1000 products developed by Pharmacosmos in the US.

Pharmacosmos is eligible for milestone payments of up to USD 130 million for Monofer^® in iron deficiency anemia in the US. In addition, Pharmacosmos will be eligible to receive further payments for the manufacture and supply of Monofer^®to Helsinn in the US.

Helsinn's Chief Executive Officer, Riccardo Braglia, commented: "Helsinn is committed to improving the lives of patients by offering medicines which enable them to get the most out of every day, optimizing their quality of life and promoting their ability to remain on treatment regimens. Monofer^® provides a high dose iron replacement in a single administration, which may offer anemic patients a new, more convenient treatment option for rapidly restoring their iron stores and thereby, improve their symptom burden. We look forward to collaborating with Pharmacosmos and bringing Monofer^® to the US market."

Pharmacosmos' Chief Executive Officer, Lars Christensen, commented: "This is a very important milestone for Pharmacosmos. The US market is the biggest market in the world. We believe that Monofer^® will serve yet unmet clinical needs with a clear potential to improve outcomes and convenience for patients suffering from Iron Deficiency Anemia in the US. Helsinn's strong foothold in the hematology and oncology combined with Pharmacosmos' expertise on iron deficiency anemia will provide an excellent platform for the introduction of Monofer^® in the US. I expect that our alliance with Helsinn will bring further growth, significantly strengthening our ambition and possibilities to establish Monofer^® as the leading brand for iron deficiency anaemia management."