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.