Clinical stage biopharmaceutical company Poxel SA (Euronext Paris:POXEL) announced on Monday that net sales of TWYMEEG in Japan surpassed JPY5bn in its Japanese partner Sumitomo Pharma Co Ltd's (TYO:4506) fiscal year 2024.

This achievement triggers a 10% royalty on all TWYMEEG net sales and a one-time JPY500m sales-based payment for Poxel.

These revenues will be used to repay the bond issue with OrbiMed and partially repay debt to IPF Partners.

Poxel expects escalating double-digit royalties and additional sales-based payments upon the achievement of future sales thresholds.

(USD1=JPY155.52)