Regulatory News:
Advicenne (Euronext Growth Paris ALDVI FR0013296746), a specialty pharmaceutical company dedicated to the development and commercialization of innovative treatments for those suffering from rare renal diseases, today announced the conclusion of an agreement with Primex Pharmaceuticals AG, a Swiss biopharmaceutical company. This agreement finalizes the restructuring of contracts signed in 2016. Under this agreement, Advicenne will receive 3.5 million euros, half of which will be paid in fiscal year 2024 and the balance over the next 18 months. Advicenne is also eligible for additional amounts for commercial rights outside Europe.
This agreement concludes several months of discussion between the two parties to successfully renegotiate the original terms of our licensing agreement with Primex Pharmaceuticals AG.
Didier Laurens, Chief Executive Officer of Advicenne, commented: "I am glad we reached an agreement with Primex. It results from lengthy discussions aimed at preserving the best interests of Advicenne. It ends a long period of uncertainty with the contractual situation, enabling the company to receive 3.5 million euros in total, including 1.75 million euros immediately. This initial amount extends our financial visibility until the end of the second quarter of 2025
ABOUT ADVICENNE
Advicenne (Euronext: ALDVI) is a specialty pharmaceutical company founded in 2007, specializing in the development of innovative treatments in Nephrology. Its lead product Sibnayal® has received Marketing Approval for distal renal tubular acidosis (dRTA) in EU and GB. ADV7103 is currently in late-stage development in cystinuria in Europe and in dRTA and cystinuria in the US and Canada. Headquartered in Paris, Advicenne, listed on the Euronext Paris stock exchange since 2017, has now been listed on Euronext Growth Paris since its transfer on March 30, 2022. For additional information, see: https://advicenne.com/.
Disclaimer
This press release contains certain forward-looking statements concerning Advicenne group and its business, including its prospects and product candidate development. Such forward-looking statements are based on assumptions that Advicenne considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the 2023 Universal Registration Document filed with the French financial market authority on April 5, 2024 (a copy of which is available on www.advicenne.com) and to the development of economic conditions, financial markets and the markets in which Advicenne operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Advicenne or not currently considered material by Advicenne. The occurrence of all or part of such risks could cause actual results, financial conditions, performance, or achievements of Advicenne to be materially different from such forward-looking statements. Advicenne expressly declines any obligation to update such forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241219534486/en/
Contacts:
Advicenne
Didier Laurens, CEO
+33 (0) 1 87 44 40 17
Email: investors@advicenne.com
Ulysse Communication
Media relations
Bruno Arabian
+33 (0)6 87 88 47 26
Email: advicenne@ulysse-communication.com
