(Boursier.com) — Crossject entered into a commercial agreement for Australia and New Zealand for the use of ZENEO Midazolam, its innovative rescue treatment in the management of epileptic seizures.
Under the terms of the agreement, AFT Pharmaceuticals will be responsible for all local regulatory and commercial activities. In return for the commercial rights, Crossject will receive from AFT Pharmaceuticals approximately €0.5 million (Australian $0.79 million) in pre-commercialization payments. Around 150,000 euros (237,000 Australian dollars) will be paid after the agreement is signed. The remaining amount relates to development and approval stages. Crossject will manufacture and sell the product to AFT Pharmaceuticals at a double-digit percentage (in the middle part of the range) of AFT’s net selling price to wholesalers, with a minimum floor price per unit. The application for marketing authorization with the Australian and New Zealand regulatory authorities should be filed a few months after the application in Europe.
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