Home / Health / PolyPid Drug Deal Could Exceed $320M
PolyPid Drug Deal Could Exceed $320M
21 Jul
Summary
- PolyPid partners with Azurity for drug commercialization.
- Deal could bring PolyPid over $320 million in payments.
- Drug D-PLEX100 targets surgical site infections.
Israeli biotech company PolyPid has announced a commercialization agreement with Azurity Pharmaceuticals for its drug, D-PLEX100, intended for the U.S. and Canadian markets. The deal positions PolyPid to potentially earn more than $320 million. Initial payments include $15 million upon signing and another $15 million expected next month following U.S. Food and Drug Administration acceptance of the new drug application for D-PLEX100.
Further milestone payments, contingent on regulatory, development, and sales achievements, could amount to approximately $300 million. PolyPid will also manufacture and supply D-PLEX100 to Azurity for a transfer price and will receive tiered royalties. D-PLEX100 is engineered to deliver extended antibacterial action directly at surgical sites, aiming to prevent abdominal infections.
PolyPid retains global commercial rights outside the U.S. and Canada, along with worldwide manufacturing rights and ownership of its PLEX platform. This partnership marks a crucial step for PolyPid in its transition to becoming a commercial-stage company, according to its CEO.
