Madrid, Spain, July 14, 2014 and Tokyo, Japan, July 15, 2014:
Zeltia and Chugai Pharmaceutical Co., Ltd. today announced that PharmaMar S.A., a wholly owned oncology subsidiary of Zeltia, and Chugai Pharma Marketing Ltd, a wholly owned subsidiary of Chugai, have entered into a license agreement where Chugai Pharma Marketing would promote PharmaMar's Aplidin® for the treatment of multiple myeloma (MM) in eight European countries (France, Germany, the UK, Belgium, the Netherlands, Luxemburg, Ireland and Austria).
Under the terms of the agreement, PharmaMar receives an upfront payment of 5 million and will be eligible for more than 30 million related to the regulatory, development and sales milestones. PharmaMar will retain exclusive production rights and will sell the product to Chugai for commercial use.
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