Moberg Pharma AB has signed an exclusive license agreement with Taisho Pharmaceutical Co., Ltd for development, registration and commercialization of MOB-015 in Japan. Under the agreement, Moberg Pharma is eligible to receive milestones of up to USD 50 million contingent on development and commercial success, as well as supply fees including royalties.
Moberg Pharma has entered into a license agreement granting Taisho Pharmaceutical Co., Ltd exclusive Japanese rights to MOB-015, a new topical treatment of onychomycosis based on Moberg’s patented proprietary formulation of terbinafine. Taisho will fund and conduct the development and registration activities in Japan, and will be marketing, distributing and selling MOB-015 in Japan upon completion of registration.
“We are excited to partner with Taisho for the large and growing Japanese onychomycosis market, contributing to our vision of making MOB-015 the leading nail fungus treatment worldwide,” says Anna Ljung, CEO of Moberg Pharma.
“This is the third major agreement for MOB-015 and further validates the significant market potential for our lead asset and the focused commercialization preparations by our team,” says Peter Wolpert, Executive Chairman of Moberg Pharma.
Under the terms of the license agreement, Moberg Pharma provides supply for the product and provides Taisho with know-how and documentation from its international development program. Moberg Pharma is eligible to receive up to approximately USD 50 million in milestone payments, including USD 5 million paid at signing. The majority of the milestone payments are contingent on sales targets, with the balance contingent on development and regulatory milestones. Moberg Pharma will also receive supply fees including royalties.
According to Moberg Pharma’s market intelligence, the Japanese market for branded prescription drugs for onychomycosis amounted to $290 million in 2018, growing at more than 8 percent.