Cardiome Announces Licensing Agreement for XYDALBA

Cardiome Pharma (NASDAQ:CRME; TSX:COM) announced its affiliate has signed an exclusive license and distribution agreement with Tzamal Medical, which will move XYDALBA closer to commercialization in Israel.
As quoted in the press release:

As part of the agreement, Tzamal will be responsible for obtaining regulatory and pricing approvals for XYDALBA™ from Israel’s Ministry of Health. Cardiome will receive an upfront payment, as well as additional payments, based upon commercial achievements and sales of XYDALBA™. Additional terms were not disclosed.
“Tzamal is a proven leader at providing Israel’s hospitals with high-quality medications across a number of therapeutic areas including anti-infectives,” said Hugues Sachot, Cardiome’s Chief Commercial Officer. “Cardiome recently announced its launch of XYDALBA™ in the major markets of the U.K., France and Germany, and extending the availability of XYDALBA™ to Israel is a logical step in commercializing this important medicine across the territories we cover.”
“Based on the high-quality registration file of XYDALBA™, we expect to complete a timely registration and launch within the next 12 to 18 months, and we are confident that the product’s unique benefits will position it as a first-choice treatment for its approved indications and the important underserved market segment it targets,” said Edi Steinberg, General Manager of Tzamal Bio Pharma Ltd.

Click here to read the full press release.

Source: www.newswire.ca