Palau Pharma sells compound for atopic dermatitis to US pharmaceutical company
This Catalan biopharmaceutical firm is participating in the BIO Boston convention this week, where they aim to find other benchmark partners for new projects.
By Biocat
Palau Pharma has licensed the compound UR-65318 in the preclinical phase, to treat atopic dermatitis, to a publicly traded US pharmaceutical company. The economic conditions of the agreement haven’t been made public. The Catalan biopharmaceutical company has received an initial payment and will receive additional compensation in the future as goals are met in the various stages of drug development and marketing.
The international legal services firm Baker&McKenzie has advised Palau Pharma on this transaction.
CEO Ignasi Faus explained, "UR-65318 is a histamine-4 receptor antagonist and could become a 'best in class' product in its therapeutic field.”
Palau Pharma develops innovative drugs to cover unmet medical needs in patients suffering from inflammatory and autoimmune diseases like asthma, atopic dermatitis, psoriasis, rheumatoid arthritis, multiple sclerosis and intestinal inflammatory disease. Their products are manufactured by Grup Uriach, one of the company’s shareholders along with Caja Duero, Andosins Capital, CatalunyaCaixa and Najeti Capital.
This week, executives from the company are participating in the BIO Boston convention with the Catalan delegation coordinated by Biocat in order to scout for benchmark partners to license other projects in their portfolio and finish developing and marketing them globally, especially in the United States.
