May 11, 2020 / 6:15 AM / in 16 days

BRIEF-Orexo Acquires Exclusive U.S. Rights To Commercialize Deprexis

May 11 (Reuters) - Orexo AB:

* OREXO ACQUIRES EXCLUSIVE US RIGHTS TO COMMERCIALIZE DEPREXIS®, A WORLD-LEADING DIGITAL THERAPY TO HELP PATIENTS MANAGE THE SYMPTOMS OF DEPRESSION

* UNDER TERMS OF AGREEMENT, GAIA IS ENTITLED TO AN UPFRONT PAYMENT AND ROYALTIES WILL BE PAID BASED ON NET SALES FROM JANUARY 1, 2022 ONWARDS

* ANNUAL NET SALES POTENTIAL OF DEPREXIS® ARE ESTIMATED TO EXCEED MARKET POTENTIAL OF VORVIDA® (USD 120 M - USD 200 M) AND OXD01 (USD 150 M - USD 225 M)

* INVESTMENTS RELATED TO DEAL AND OPPORTUNITY TO ACCELERATE LAUNCH OF ALL OREXO’S DIGITAL THERAPIES WILL IMPACT OREXO’S CASH FLOW WITH APPROXIMATELY SEK 115 MILLION IN Q2 AND RESULT IN AN INCREASED OPEX FOR 2020

* ACQUIRED EXCLUSIVE US RIGHTS TO GAIA AG’S (GAIA) DEPREXIS® Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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