Cosmo Pharmaceuticals announces expansion of agreement with Dr. Falk Pharma for Rifamycin SV MMX

Cosmo Pharmaceuticals announces expansion of agreement with Dr. Falk Pharma for Rifamycin SV MMX

Dublin, Ireland - 19 November 2020: Cosmo Pharmaceuticals N.V. (SIX: COPN) announced today that it has expanded its existing license agreement with Dr. Falk Pharma Gmbh ("Dr. Falk") to include Rifamycin SV MMX in the new 600mg formulation currently tested in the IBS-D indication.

Under the agreement with Dr Falk, Cosmo will receive a further €2m down-payment plus reimbursement of a portion of the expenses borne for the development of the 600mg formulation plus a supply price which incorporates a high double-digit percentage of sales. Dr. Falk will also bear a portion of the future costs for the ongoing developments.

Rifamycin SV MMX 200mg is already approved in the US and EU for the treatment of travelers' diarrhea and it is licensed to Dr. Falk for the EU and other countries and is marketed under the brand name Relafalk®, whereas it is licensed to RedHill BioPharma Ltd. (NASDAQ: RDHL) for the US where it is marketed under the brand name Aemcolo®. A Phase II clinical study with Rifamycin 600mg in IBS-D indication is currently ongoing and results are expected by year end.

Rifamycin SV MMX is a pharmaceutical product containing rifamycin SV formulated with Cosmo's MMX® technology. Rifamycin SV MMX contains a broad spectrum, semi-synthetic, orally non-absorbable antibiotic. The application of MMX® technology to rifamycin SV allows the antibiotic to be delivered directly into the colon, avoiding unwanted effects on the beneficial bacterial flora living in the upper portions of the gastro-intestinal tract.

Alessandro Della Chà, CEO of Cosmo, said: "We are very pleased to expand our agreement with Dr. Falk with whom we have a long relationship. We look forward broadening the indications for this very important product".

About Cosmo Pharmaceuticals

Cosmo is a specialty pharmaceutical company focused on developing and commercialising products to treat selected gastrointestinal disorders and improve endoscopy quality measures through aiding the detection of colonic lesions. Cosmo has also developed medical devices for endoscopy and has recently entered into a partnership with Medtronic for the global distribution of GI Genius™ its artificial intelligence device for use in coloscopies and GI procedures. Cosmo has licensed Aemcolo® to Red Hill Biopharma Ltd. for the US and has licensed Relafalk® to Dr. Falk Gmbh for the EU and other countries. For additional information on Cosmo and its products please visit the Company's website: www.cosmopharma.com

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Some of the information contained in this press release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Cosmo undertakes no obligation to publicly update or revise any forward-looking statements.

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