The global law firm, Morrison & Foerster has advised Novartis to sign an exclusive collaboration, option and license agreement with Camurus, a Swedish research-based pharmaceutical company.
As per the collaboration, Camurus has granted Novartis an option to license the FluidCrystal Injection depot technology to develop, manufacture and commercialize Camurus’ octreotide product CAM2029 and related products.
CAM2029 is a ready-to-use, long acting octreotide product, indicated to treat acromegaly, neuroendocrine tumors (NETs), and other serious and life-threatening diseases.
The FluidCrystal Injection depot delivers therapeutic levels of drug substance over extended periods tuneable from days to months from a single injection.
Novartis will pay a non-refundable option fee of $10m to Camurus, which will fund, perform and retain control over the clinical development of CAM2029 until exercise of the license option.
Once the license option is exercised, Novartis will take charge of further clinical development, product registration and worldwide commercialization. Camurus is also eligible to receive running royalties on global product sales.