Cessatech and pediatric medicines specialist Proveca have announced a deal that gives Proveca global commercialization rights to Cessatech’s CT001 sufentanil / ketamine analgesic nasal spray. Earlier this year, Cessatech initiated a Phase 3 trial of CT001 in children with moderate-to-severe pain under care in the emergency department.
According to the announcement, “The detailed terms of the agreement is not disclosed but includes an upfront payment upon signature and double-digit royalties to Cessatech on the basis of net sales in the licensed territory.” Proveca, which has previously obtained EU pediatric use marketing authorizations (PUMAs) for 4 products, intends to concentrate first on European approval and commercialization.
Cessatech CEO Jes Trygved commented, “We are extremely pleased with this agreement, and the partnership with Proveca, a company that in many ways share the same vision, ‘caring about the medication for children’. From the first meetings we had with Proveca, we knew this was an interesting opportunity and someone who spoke the same language. Financially, this agreement is a very strong asset, and it gives us opportunities to expand our pipeline further and provide more solutions for children, an area that is still not prioritized enough. We are truly excited about the partnership.”
Proveca CEO Simon Bryson said, “This partnership between Proveca and Cessatech is founded on our shared ambition to improve the lives of children globally with innovative medicines to address their unmet medical needs. We’re excited to embark on our first collaboration with Cessatech as we take CT001 through the next phase of its journey, building on the extensive R&D program, to register and commercialize the product globally. With projected potential peak sales in the high double digit million euros, this is a significant milestone deal for both companies, and we look forward to extending the partnership further with other opportunities, including CT002 for medical procedural sedation in children.”
Read the Cessatech press release.
