Divigel® is a prescription transdermal estrogen product approved for the treatment of menopause-related symptoms.
Vertical Pharmaceuticals holds the marketing rights to the product in the US and has agreed to help Searchlight in launching the product in Canada.
The transaction is effective from December when Searchlight will commence distribution marketing activities for Divigel® in Canada.
The deal will enable Searchlight to provide a wide range of solutions in the women’s healthcare sector.
Based in Canada, Searchlight Pharma is a speciality healthcare company, while Vertical Pharmaceutical is a US-based pharmaceutical company with a portfolio of women’s healthcare products.
Q BioMed will own the brand, trademarks, and market authorisations of the drug in 22 countries, as well as all the related intellectual property. It will also receive all the market sales and distribution data from GE.
GE Healthcare will receive the transaction amount as an upfront payment. It is also entitled to receive one sales-based milestone payment and a single digit royalty payment for 15 years.
Both companies involved in the transaction are based in the US.
Quest will receive 45% interest in OncoCare Therapeutics as part of the agreement.
The Quest development pipeline includes two treatments, namely AR 9.6 and ACP-2127. OncoCare will collaborate with Quest on the research and development of the drug.