CHARLESTON, S.C.--(BUSINESS WIRE)--Aeterna Zentaris Inc. (NASDAQ: AEZS)(TSX: AEZ) (the “Company”) and Rafa Laboratories, Ltd. (“Rafa”) today announced the signing of an exclusive license agreement for the Company’s lead anti-cancer compound, Zoptrex™ (zoptarelin doxorubicin), for the initial indication of endometrial cancer, for Israel and the Palestinian Territories (the “Territory”). Zoptrex™, a novel synthetic peptide carrier linked to doxorubicin, is currently in a fully-enrolled Phase 3 clinical trial in endometrial cancer. The Company expects to complete the Phase 3 clinical trial in the third quarter of 2016 and, if the results of the trial warrant doing so, to file a new drug application for Zoptrex™ in the first half of 2017.
Under the terms of the License Agreement, Aeterna Zentaris will be entitled to receive a non-refundable upfront payment in consideration for the license to Rafa of the Company’s intellectual property related to Zoptrex™ and the grant to Rafa of the right to commercialize Zoptrex™ in the Territory. Rafa has also agreed to make additional payments to the Company upon achieving certain pre-established regulatory and commercial milestones. Furthermore, the Company will receive double-digit royalties on future net sales of Zoptrex™ in the Territory. Rafa will be responsible for the development, registration, reimbursement and commercialization of the product in the Territory. The Company and Rafa have also entered into a supply agreement, pursuant to which the Company will supply Zoptrex™ to Rafa for the duration of the license agreement.
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