Moberg Derma AB and Meda AB have entered into a license agreement covering rights for Nalox - Moberg Derma’s patented product for the treatment of discolored and damaged nails caused by nail fungus (onychomycosis) or nail psoriasis. Under the agreement, Meda is granted exclusive rights to market and sell Nalox in a large number of countries in Europe. Moberg Derma assumes production and supply responsibility. Over the past year, Meda has made Nalox market leader in the Nordic region.
The agreement encompasses several major markets, including Germany, France, Spain, United Kingdom, Austria, the Netherlands and Belgium.
As compensation for the exclusivity rights, Meda has agreed to pay a total of SEK 32 million, with SEK 13 million when signing the contract and the remaining SEK 19 million in future milestone payments. In addition, compensation will be paid for delivered products.
“This agreement is a key step in the global launch of Nalox”, said Peter Wolpert, CEO of Moberg Derma. “Meda has proven to be the perfect partner in the Nordic region by quickly making Nalox into the market leader and we look forward to repeating this success story in several other markets through Meda’s strong sales organization in Europe", concludes Wolpert.
Nalox is a topical treatment used to treat nail disease. Launched in the Nordic region in autumn 2010, it quickly became market leader. Nalox is a prescription free, over-the-counter product sold under the name Emtrix in certain markets and under the name Kerasal Nail in the US Safety and efficacy have been demonstrated in several clinical studies including more than 600 patients. Nalox has a unique and rapid mechanism of action which brings visible improvements within 2-4 weeks of treatment. Nail fungus is the most common nail disease and afflicts approximately 10% of the general population and increasing with age. The estimated global market potential exceeds US$ 1 billion. The untapped potential is significant since many patients remain untreated. It is generally recognized that there is a need for new efficacious and safe topical treatments.