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Acer Therapeutics Enters Into ACER-001 Development Pact With Relief Therapeutics

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Relief Therapeutics Holding AG (OTCMKTS: RLFTF) and Acer Therapeutics Inc (NASDAQ: ACERhave entered into a Collaboration and License Agreement for worldwide development and commercialization of ACER-001 for urea cycle disorders (UCDs) and maple syrup urine diseases (MSUD).

  • ACER-001 is a proprietary powder formulation of sodium phenylbutyrate designed to be both taste-masked and immediate release.
  • Acer will receive an approximately $10 million cash payment.
  • Relief will also pay Acer up to $20 million in U.S. development and commercial launch costs for the above indications.
  • Acer will retain development and commercialization rights in the U.S., Canada, Brazil, Turkey, and Japan.
  • Both the companies will split net profits from Acer’s territories 60:40 in favor of Relief.
  • Besides, Relief has licensed the rest of the world’s rights, where Acer will receive from Relief a 15% revenue royalty.
  • Acer may also receive $6 million in development milestone payments following the first European marketing approvals for UCDs and MSUD.
  • An ACER-001 pre-NDA meeting with the FDA is scheduled for the second quarter of 2021.
  • Price Action: ACER shares are up 20.8% at $4.18 in premarket trading on the last check Monday.
 

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Posted-In: urea cycle disordersBiotech News Penny Stocks Health Care Contracts General

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