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Medivir renegotiates multi-party agreement

Medivir together with the originators of remetinostat, and TetraLogic Pharmaceuticals Corporation and the Leukemia & Lymphoma Society (“the stakeholders”) have restructured and streamlined the financial obligations for remetinostat.
The purpose of the new agreement is to create improved business development opportunities, states the company.
Remetinostat
Remetinostat is a topical histone deacetylase (HDAC) inhibitor, for the treatment of cutaneous T-cell lymphoma (CTCL) and potentially other types of skin cancers.
Medivir acquired remetinostat from TetraLogic in 2016. The original arrangements between Medivir and the stakeholders included milestone payments with predetermined amounts as well as royalty obligations to the stakeholders when Medivir develops, markets or out-licenses remetinostat.
Significantly improved conditions for a potential out-licensing or sale
The original agreement has been renegotiated so that the compensation Medivir is obliged to pay in a potential future out-licensing of remetinostat is based solely on the distribution of actual future revenues to Medivir.
“It is very satisfying that we now have renegotiated a new agreement which aligns and benefits all parties and creates significantly improved conditions for a potential out-licensing or sale in our continued business development efforts related to remetinostat,” says Magnus Christensen, Interim CEO, Medivir.
Photo of Magnus Christensen: Medivir
Published: August 17, 2021