Stephenson Harwood advises Shield Therapeutics plc on exclusive Japan licence
Law firm Stephenson Harwood LLP has advised Shield Therapeutics plc on its exclusive licence agreement with VITAL-NET, Inc. for ACCRUFeR® in Japan.
Shield Therapeutics will receive an initial payment of approximately $665,000 and is eligible to receive additional milestone payments related to the regulatory approval of ACCRUFeR® and upon the achievement of specified net sales targets by VITAL-NET. For the term of the agreement, Shield will also receive double-digit royalties on net sales of ACCRUFeR®. VITAL-NET, Inc., a pharmaceutical wholesaler, will undertake and be responsible for all costs, including clinical and regulatory, related to activities required to achieve marketing authorisation and commercialisation of ACCRUFeR® in Japan.
Shield Therapeutics, a commercial stage speciality pharmaceutical company focused on addressing iron deficiency, is meeting its commitment to expand its global footprint with this agreement. Japan is the third largest pharmaceutical market worldwide and faces significant health challenges with iron deficiency prevalent among women, children, and the elderly. ACCRUFeR® offers a new option for those who need a more effective treatment to restore their iron levels and improve their overall health.
The team was led by Intellectual Property and Head of Life Sciences + Healthcare Partner, Alexandra Pygall.
