LifeCycle and Sciele agree licensing deal

LifeCycle Pharma AS, a Danish drugmaker, has signed an exclusive licensing agreement with USA-based Sciele Pharma, formerly known as the First Horizon Pharmaceutical Corp, under which the latter will market the former's hyperlipidimia drug fenofibrate. The product, which is also indicated for the treatment of triglyceridemia, will be sold in the USA, Canada and Mexico in two dosage strengths, 40mg and 120mg.

Under the terms of the agreement, LifeCycle will receive an upfront fee of $5.0 million, as well as milestone payments of up to $12.0 million if the drug is both approved by the US Food and Drug Administration and goes on to meet certain sales targets. The Danish firm is also entitled to tiered mid- to high-teen royalties. In addition, the companies have established a technology collaboration accord, which will utilize LifeCycle's MeltDose platform.