Orion Corporation and Newel Health have entered into a license agreement regarding ODD-403, a digital therapeutic (DTx) developed by Orion for patients suffering from chronic pain and particularly from fear of movement and re-injury.
Under the terms of the agreement, Newel will have the exclusive global rights to develop, manufacture and commercialize ODD-403. Orion is entitled to receive royalty from the sales of the product as well as sales milestone payments.
“Newel is one of the frontrunners in digital therapeutic (DTx) applications, and we are pleased to have them as our partner in this indication area. We believe Newel has the best expertise to further develop and bring ODD-403 to patients,” says Sammeli Liikkanen, Director of Digital Medicine at Orion Corporation.
Photo of Orion office: Maija Astikainen/Orion Pharma