SkyePharma passes credibility test, with profitability aim soon to be

The last few weeks have seen a flurry of activity at SkyePharma, withthe firm announcing a series of deals with the UK's Bioglan and a $30 million capital injection from Paul Capital Partners (Marketletter January 15). This has been followed by the announcement of an agreement with Meditech Research, whereby the latter will commercialize SkyePharma's Solaraze (hyaluronic acid and diclofenac) for the treatment of actinic keratosis in Australia and New Zealand, as well as Malaysia and Singapore.

SkyePharma will receive a 15% share of all monies Meditech receives from either commercializing or licensing Solaraze and associated products in the above territories. Meditech has also obtained a non-exclusive license for SkyePharma's HIT Technology to exclusively exploit its anticancer HyACT project worldwide. Meditech will pay SkyePharma 10% of all net revenue it receives from the HyACT project.

This latest Solaraze deal comes just after SkyePharma granted the North American marketing rights for the drug to Bioglan, which already has a marketing agreement in place for Solaraze in five European countries (France, Germany, Italy, Sweden and the UK).