BUDAPEST, Sept 3 Hungary's Richter and
Palatin Technologies have signed a license agreement to
co-develop and sell a drug called bremelanotide in the EU, other
European countries and additional selected countries, the
companies said on Wednesday.
Richter is Hungary's largest pharmaceutical company with a
strong focus on female health. Bremelanotide is aimed at
treating female sexual dysfunction (FSD) indications.
Under the terms of the agreement, Palatin will receive total
upfront payments of 7.5 million euros, and will additionally
receive 2.5 million euros upon initiation of its phase 3
clinical trial program in the United States, the firms said.
"Palatin and Richter will each contribute to the European
co-development activities for obtaining regulatory approval in
Europe," they added.
(Reporting by Krisztina Than; Editing by Michael Urquhart)