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.
While TiGenix will initially maintain responsibility for manufacturing, logistics and regulatory affairs, the costs of these activities will be borne by Sobi. TiGenix employees currently engaged in the marketing and distribution of ChondroCelect are expected to transfer to Sobi, thereby ensuring continuity of know-how.
ChondroCelect received EU marketing authorisation in October 2009 as the first advanced therapy medicinal product, and was approved for reimbursement in Belgium in February 2011, in the Netherlands in June 2012 and in Spain in March 2013. ChondroCelect is indicated for the repair of single symptomatic cartilage defects of the femoral condyle of the knee (International Cartilage Repair Society Grades III or IV) in adults.