The two companies have entered into a license agreement for European rights of the phase III drug candidate Kappaproct.
Under the terms of the agreement, Index is eligible for an upfront payment for as well as success driven milestone payments with a total deal value that could exceed EUR 100 million. Furthermore, Index is entitled to receive double digit royalties from Almirall on the European net sales of the drug candidate.
“Almirall has extensive sales and marketing experience within the gastrointestinal field in Europe. Moreover, they have a recent track record of success in launching innovative biotechnology products. Thus Almirall is a perfect partner for Index in our mission to bring Kappaproct to the market in Europe. Moreover, during the partnering process it became clear that Almirall and Index share a commitment to collaboration as a means to pursuing ambitious scientific goals. This makes for a strong cultural fit between our two companies, which is a promising starting point for a partnership,” said Jesper Wiklund, CEO of Index Pharmaceuticals in a press release.
Kappaproct is a DNA-based immunomodulatory sequence (DIMS) that targets the tll-like receptor 9. It is a potential treatment for severe Ulcerative Collitis, according to Index Pharmaceuticals. The results from the ongoing phase III trial COLLECT are exepcted in mid-2014.
