Biotech

Karyopharm and Promedico entered into a distribution agreement for the commercialization of XPOVIO in Israel and the Palestinian Authority.

Karyopharm Therapeutics (NASDAQ:KPTI) and Promedico entered into an exclusive distribution agreement for the commercialization of XPOVIO in Israel and the Palestinian Authority.

As quoted in the press release:

Under the terms of the agreement, Karyopharm will receive certain prespecified payments and is eligible to receive additional payments if prespecified regulatory and commercial milestones are achieved by Promedico, a fully-owned Neopharm LTD company. Karyopharm is also eligible to receive double-digit royalties on future net sales of XPOVIO in the covered territory. In exchange, Promedico will receive exclusive rights to commercialize XPOVIO in the covered territory and is responsible for all regulatory filings and obligations required for registering XPOVIO. Karyopharm has retained exclusive production rights and will supply finished product for commercial use in the covered territory.

Click here to read the full press release.

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