Orion is headquartered in Espoo,
The commercial launch of Suvexx in the Territory is anticipated to commence in 2022, subject to regulatory approval. The prescription acute migraine treatment market in the Territory was valued at over
'Our agreement with Orion further demonstrates Miravo's focus on expanding the footprint of our proprietary products through global out-licensing transactions,' said
License Agreement Details
The License Agreement grants Orion the exclusive rights to package, market, sell and distribute Suvexx in the Territory. Orion will be responsible for obtaining and maintaining the marketing authorizations for Suvexx in the Territory and will also manage all Territory specific commercial activities. Miravo Ireland will receive up to
About Suvexx
Suvexx is a patent protected, fixed dose combination of naproxen sodium and sumatriptan that was originally developed by the
About
Orion is a globally operating Finnish pharmaceutical company - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are neurological disorders, oncology, Finnish heritage rare diseases and respiratory diseases for which Orion develops inhaled pulmonary medication under Easyhaler device portfolio. Orion's net sales in 2019 amounted to
About
Miravo is a Canadian focused, healthcare company with global reach and a diversified portfolio of commercial products. The Company targets several therapeutic areas, including pain, allergy, and dermatology. The Company's strategy is to in-license and acquire growth-oriented, complementary products for Canadian and international markets. Miravo's head office is located in
Forward-Looking Statements
This press release contains 'forward-looking information' as defined under Canadian securities laws (collectively, 'forward-looking statements'). The words 'plans', 'expects', 'does not expect', 'goals', 'seek', 'strategy', 'future', 'estimates', 'intends', 'anticipates', 'does not anticipate', 'projected', 'believes' or variations of such words and phrases or statements to the effect that certain actions, events or results 'may', 'will', 'could', 'would', 'should', 'might', 'likely', 'occur', 'be achieved' or 'continue' and similar expressions identify forward-looking statements. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking statements.
Forward-looking statements are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances, including the anticipated receipt of certain milestone and royalty payments, the anticipated launch of certain products and the potential impact of COVID-19. Such forward-looking statements are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations which are difficult to predict and many of which are beyond the control of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management of the Company as of the date of this press release, are inherently subject to significant business, economic and competitive uncertainties and contingencies and may prove to be incorrect. Material factors and assumptions used to develop the forward-looking statements, and material risk factors that could cause actual results to differ materially from the forward-looking statements, include but are not limited to, the validity of the '907 and '285 Patents claims, the outcome of ongoing patent litigation, the potential impact of COVID-19 on the Company's operations, business and financial results and other factors, many of which are beyond the control of Miravo. Additional factors that could cause Miravo's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risk factors included in Miravo's most recent Annual Information Form dated
All forward-looking statements are based only on information currently available to the Company and are made as of the date of this press release. Except as expressly required by applicable Canadian securities law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All forward-looking statements in this press release are qualified by these cautionary statements.
Contact:
Tel: 905 326 1888
Email: stefan@bristolir.com
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