Sobi Takes Up ChondroCelect Marketing/Distribution
TiGenix has licensed the marketing and distribution of ChondroCelect, its cell-based medicinal product for the repair of cartilage defects of the knee, to Swedish Orphan Biovitrum (Sobi).
Sobi will continue to market and distribute the product where it is currently available and has also acquired the exclusive rights to expand the product's availability to patients in a number of additional territories, including the rest of the EU, Norway, Switzerland, Turkey and Russia, plus the countries of the Middle East and North Africa.
TiGenix will receive a royalty of 22% of the net sales of ChondroCelect in the first year of the agreement, and 20% of the net sales of ChondroCelect thereafter. There will be no upfront or milestone payments. The agreement will take effect on June 1 2014, and has a duration of ten years.