Anika Therapeutics, Galderma sign development, commercialization agreement

By Elaine Rigoli

Tampa, Fla., July 5 - Anika Therapeutics, Inc. has signed an exclusive worldwide development and commercialization agreement with Galderma Pharma SA, a joint venture between Nestle and L'Oreal, for cosmetic tissue augmentation (CTA) therapies.

Anika will receive an upfront payment of $1 million with additional milestone payments to be made upon receipt of final regulatory approvals and upon achievement of sales thresholds and development targets.

The agreement also provides Anika with royalties and transfer payments for the supply of CTA products.

Under this multiyear agreement, which is subject to earlier termination pursuant to certain events, Galderma will also reimburse certain development costs for enhancement of the initial product, line extensions and clinical trial support.

CTA therapies are used in patients for the correction of facial wrinkles, scar remediation and lip augmentation.

Based in Woburn, Mass., Anika develops, manufactures and commercializes therapeutic products for tissue protection and healing.

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