Shield Therapeutics plc announced that it has entered into an exclusive licence agreement for Accrufer with KYE Pharmaceuticals Inc. in Canada. KYE will undertake and be responsible for all costs, both clinical and regulatory, related to activities required to achieve marketing authorization and commercialization of Accrufer in Canada. Shield will be responsible for all manufacturing costs of goods sold in Canada.

Shield will receive an upfront payment of £150,000 and is eligible to receive £850,000 in development and sales milestones comprised of a payment of £250,000 upon regulatory approval of Accrufer® by Health Canada and up to £600,000 in milestone payments upon the achievement of specified calendar net sales targets. For the term of the agreement, Shield will also receive double-digit royalties on net sales of Accrufer®.