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Veloxis Announces Strategic Agreement for Commercialization and Distribution of LCP-Tacro™


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-Chiesi Farmaceutici to Provide Up To $47.5 Million in Up-Front Payments and Milestones-


Report is Available for Download at: www.lifesciadvisors.com/clients/veloxis

On October 5, 2012, Veloxis Pharmaceuticals (OMX: VELO) announced the signing of a strategic agreement for LCP-Tacro, Veloxis’ lead drug candidate, which is currently in its second pivotal Phase 3 clinical trial for the prevention of kidney transplant rejection. Chiesi Farmaceutici has agreed to manage the distribution and commercialization of LCP-Tacro in Europe, Turkey, and CIS countries.

Veloxis Pharmaceuticals achieved an important milestone last week with the announcement of a marketing partner for LCP-Tacro. Under the terms of the agreement, Chiesi Farmaceutici will be responsible for the commercialization of LCP-Tacroin certain countries, including Europe, Turkey, and the Commonwealth of Independent States (CIS) countries. Chiesi Farmaceutici is a fully integrated, Europe-based international pharmaceutical company focused on respiratory disease and special care products. The company has a large distribution network and annual sales in excess of €1 billion.

Veloxis to Receive up to $47.5 Million in Up-Front and Milestone Payments. According to the commercialization and distribution agreement signed with Chiesi Farmaceutici, Veloxis will receive up to $47.5 million in up-front and milestone payments. The milestone payments are subject to the achievement of certain regulatory milestones and sales targets. According to the agreement, Veloxis will supply the LCP-Tacro product to Chiesi at a transfer price that will be a pre-agreed, double-digit percentage of the selling price. Chiesi has also committed to certain minimum purchases as part of the agreement.

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