OncoZenge AB (publ) ("OncoZenge" or the "Company") announces that the Company has entered into a binding agreement to partner with L. Molteni & C. dei F.lli Alitti, Società di Esercizio S.p.A ("Molteni Farmaceutici") regarding exclusive rights to commercialization of BupiZenge in Europe. The agreement includes customary royalties on sales and commercial milestone payments.
On January 13, 2025, OncoZenge announced that the Company had entered into a non-binding agreement with the intention to partner with Molteni Farmaceutici for the commercialization of BupiZenge in Europe. In line with the Company's previous announcement, the parties have now completed due diligence and signed a binding agreement granting Molteni Farmaceutici exclusive rights and for a commercial partnership to introduce BupiZenge in Europe (EU27, EEA, Switzerland, and United Kingdom).
Royalties and milestone payments
The agreement includes milestone payments of EUR 250,000 upon execution of the agreement, EUR 250,000 at the successful completion of the phase III study, EUR 300,000 at the first commercial sale, as well as milestone payments of EUR 500,000 upon achieving EUR 10 million of cumulative net sales, EUR 1,000,000 upon achieving EUR 20 million, EUR 1,000,000 upon achieving EUR 30 million and EUR 1,000,000 upon achieving of EUR 40 million of cumulative net sales.
The agreement also includes royalties of 15% to OncoZenge on cumulative, annual sales of BupiZenge in the territory of up to EUR 30 million, 18% royalty between EUR 30 million to EUR 60 million and 20% royalty on cumulative annual sales exceeding EUR 60 million. In the event the commercialization rights are sub-licensed in parts of the territory, OncoZenge retains 50% of any applicable upfront licensing fees.
The parties will continue to evaluate manufacturing capabilities and OncoZenge will provide timely updates to the market as developments occur.
About Molteni Farmaceutici
Molteni Farmaceutici is an Italian pharmaceutical company, a specialty pharma leader in therapeutics solutions for pain management and drug addiction. Founded in 1892 and headquartered in Florence, Italy. With its own Manufacturing, R&D, Regulatory, Supply Chain and Commercial capabilities it is able to serve a broad distribution reach in Europe and across the globe, with operations in over 40 countries.
"This partnership marks an important step forward in bringing BupiZenge to market. We are thrilled with the opportunity to collaborate with Molteni Farmaceutici whose team, capabilities and distribution reach for pain products make them a great partner for us. This partnership provides important validation of our market opportunity, and important support to our program. Molteni Farmaceutici's market reach will ensure an ambitious and cohesive launch plan for commercialization of BupiZenge across Europe. Together we will offer significant Quality of Life improvements for the millions of cancer patients who deserve better pain relief during their treatments, while realizing the full commercial potential in Europe" - Stian Kildal, CEO of OncoZenge
"This partnership represents a key milestone for the Molteni Farmaceutici Group's strategic expansion program. We are excited to strengthen our collaboration with OncoZenge; our joint Leadership, Knowledge and Capabilities will be instrumental to bring BupiZenge to market and make this new therapeutic option available and affordable for the patients in need of better pain relief along their cancer treatment therapeutic schedule. We are really looking forward to making this happen and to have a positive impact on those patients' lives"- Gianluca Corbinelli, CEO of Molteni Farmaceutici
BupiZenge - Potential to be the leading treatment for oral pain.
For additional information, please contact:
Stian Kildal, CEO, mobile: +46 76 115 3797, e-mail: stian.kildal@oncozenge.se
Certified Adviser
OncoZenge's Certified Adviser is Redeye AB.
OncoZenge AB
Gustavslundsvägen 34, 167 51 Stockholm, Sweden
About OncoZenge
OncoZenge is dedicated to developing an innovative, effective, and well-tolerated treatment for oral pain in conditions where current options fall short, often due to insufficient pain relief or significant side effects. BupiZenge is a novel oral lozenge formulation of bupivacaine, a local anesthetic with decades of clinical experience. The lead indication for BupiZenge is oral pain caused by oral mucositis, an inflammatory condition affecting millions of cancer patients. Oral mucositis leads to severe physical and psychological distress, representing a significant unmet medical need for an effective, opioid-sparing treatment. In Phase 2 trials, BupiZenge demonstrated substantially better pain relief compared to the standard of care.?
OncoZenge is headquartered in Stockholm, Sweden, and is publicly traded on Nasdaq First North Growth Market under the ticker ONCOZ.
This information is such that OncoZenge AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CEST on March 28, 2025.
