Apricus Bio is to get payments for signing, regulatory and sales milestones of as much as USD2.1m (EUR1.7m) plus tiered double digit royalties depending on Elis' sales of the product.
Onychomycosis is a chronic persistent fungal infection of the nail bed, which leads to thickening and discoloration of the nail. As part of the deal, Elis will market MycoVa in Saudi Arabia, Kuwait, Lebanon, Syria, Jordan, Iraq and Yemen as well as in the United Arab Emirates, Oman, Bahrain and Qatar.
Apricus Bio recently struck a similar licensing agreement for the drug with Stellar Pharmaceuticals Inc (PINK:SLXCF) for the Canadian market.
(USD1 = EUR0.784)
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