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Nirmal Bang Report
Cadila Healthcare Ltd. recently announced the acquisition of experimental drug – CUTX-101 (copper histidinate) from Cyprium for treating the Menkes disease.
Menkes disease is a genetic paediatric disorder caused by gene mutations of copper transporter ATP7A.
CUTX-101 is currently in Phase 3 development and as per the agreement terms, Cadila will make an upfront cash payment of $20 million to Cyprium.
The company will also provide additional cash payments upon achievement of certain regulatory milestones, besides paying royalties and commercial milestone payments based on the net sales of CUTX-101.
Depending on the sales level, royalties will range between mid-single-digit to mid-twenties as a percentage of sales.
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