Applied Therapeutics Inc. announced a partnership with Advanz Pharma for commercialization of AT-007 (govorestat) in Europe. Under the terms of the agreement: Applied Therapeutics will receive certain near-term development milestones upon clinical trial completion and marketing authorization in Europe as well as commercial sales milestones, which in the aggregate amount to over 130 million, including 10 million upfront due upon signing. Applied Therapeutics will receive royalties on any future net sales of AT-007 in Europe of 20%.
Applied Therapeutics will continue to be responsible for the development, manufacturing and supply of AT-007, and Advanz Pharma will be responsible for packaging, distribution and commercialization in Europe. Advanz Pharma receives exclusive commercial rights in the European Economic Area, Switzerland, and the UK for AT-007 in Galactosemia and SORD Deficiency, with certain rights to future indications for AT-007 in Europe.