Under the terms of the agreement, Shield will continue to manage all regulatory aspects of Feraccru's initial marketing authorisation and planned future label expansion, supply product as well as provide significant product training and support for the brand, whilst Ewopharma will be responsible for all aspects of pricing, reimbursement, marketing and distribution.
Switzerland is a well-developed market for the treatment of Iron Deficiency Anaemia (IDA), currently contributing almost 15% of total European IV iron sales. With its existing expertise in the IDA market and focus on gastroenterology, both parties believe Ewopharma is ideally positioned to launch Feraccru into the Swiss market and that Feraccru will represent a well matched, integral addition to Ewopharma's existing portfolio.
Having recently extended Shield's distribution agreement with AOP Pharmaceuticals to include the commercialisation of Feraccru in Scandinavia (as previously announced), this agreement further illustrates the execution of Shield's stated strategy to pursue geographic expansion of Feraccru commercialisation outside its core markets of the EU-5 and the USA.
The detailed commercial terms of the deal are not disclosed although Shield will receive an upfront fee, is eligible to receive further milestone payments based on regulatory and commercial achievements and will have an on-going economic interest in the commercial success of Feraccru in the territory.
Carl Sterritt, Chief Executive Officer and Founder of Shield Therapeutics, commented: "The agreement entered into today further validates our commitment to roll-out of Feraccru to patients in multiple geographies as quickly as possible. It also reflects the Group's strategy to maximise value for stakeholders through an appropriate mix of self-commercialisation in core markets and licensing in other geographies. We are very pleased to partner with Ewopharma who are ideally placed to commercialise Feraccru in Switzerland and look forward to a successful collaboration in this highly-developed market for IDA."
Alain Staub, Chief Executive Officer and Main Shareholder of Ewopharma AG, adds: "Feraccru ideally fits our development strategy as we intend to strengthen our iron deficiency franchise. Switzerland is traditionally an IV iron market. We are therefore delighted to introduce this innovative oral iron therapy and offer our Swiss patients an easier, more convenient alternative. We look forward to a long-term partnership with Shield."