Advicenne announced that it has signed a distribution agreement with Avanzanite Bioscience B.V. ("Avanzanite") for the marketing of Sibnayal(R) (a fixed combination of potassium citrate and potassium bicarbonate) in Germany, the pharmaceutical market in Europe, Austria, Switzerland and Greece. Under the terms of the agreement, Avanzanite is granted exclusive commercialization rights for Sibnayal(R) in its approved indication. Avanzanite will be responsible for conducting pricing and reimbursement negotiations with local
regulatory authorities, as well as marketing and commercial activities. Advicenne will continue to hold the marketing authorization (MA) for Sibnayal(R) in the European Union. In Switzerland, Avanzanite will be responsible for filing the marketing authorization. In return, like with its existing agreements, Advicenne will receive the proceeds from the sale
of Sibnayal(R) in the form of a transfer price and royalties. With this agreement allowing Sibnayal(R) to be made available to German patients, Advicenne has completed its coverage
of the five major European countries, either on its own or through partnerships. Sibnayal(R) is now being marketed throughout Europe which should significantly improve access to care for patients, and drive sales from 2023 onward.