Australian pharmaceutical company F.H. Faulding & Co. Ltd. hassigned an agreement with Hyal Pharmaceutical Corp. to obtainexclusive rights to two of Hyal's lead hyaluronic acid-basedcompounds.
Hyal of Mississauga, Ontario, and its Australian subsidiary, HyalPharmaceutical Australia Ltd., announced last week that F.H.Faulding will acquire rights to HYAL-CT1101 for the topicaltreatment of basal cell carcinoma and HYAL-AT2101 for thetopical treatment of pain, in a territory that includes Australia,New Zealand, Malaysia and Singapore. F.H. Faulding will payHyal (NASDAQ:HYALF) milestone-based up-front fees andescalating royalties on sales.
The agreement is for a minimum of 10 years or the life of thepatents, whichever is longer. The up-front payments aresubject to the signing of a final agreement, continueddevelopment of the products and registration and approval ofthe products in the countries within the licensed territories.
This is Hyal's first licensing partner. The company said it is innegotiations with other companies for marketing thecompounds in other territories.
HYAL-CT1101 and HYAL-AT2101, both of which contain thenon-steroidal anti-inflammatory drug diclofenac withhyaluronic acid, are in Phase III trials in the U.S. and Canada.Hyaluronic acid acts to take the drug directly to the site ofpathology.-- Brenda Sandburg
APPOINTMENTS AND ADVANCEMENTS
Glycomed Inc. promoted Brian Atwood to president and chiefoperation officer. Atwood was most recently senior vicepresident of operations at the Alameda, Calif., company. He nowassumes responsibility for the company's overall operations, aswell as its strategic direction.
Dale Sander was named vice president of finance, chieffinancial officer and secretary/treasurer of Xytronyx Inc. Hewas vice president of finance and chief financial officer ofTactyl Technologies Inc. before joining Xytronyx of San Diego.
David Martin was named senior vice president of Chiron Corp.and president of the Emeryville, Calif., company's globaltherapeutics business, including its Cetus Oncology andEuroCetus business units. Martin was executive vice president,research and development, and a senior member of themanagement group for DuPont Merck since its inception in1990.
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