RedHill Biopharma and Canadian drug delivery company IntelGenx have signed a license agreement with Spanish company Grupo JUSTE for the marketing of Rizaport in Spain, along with a right of first refusal for additional territories.
Rizaport is a proprietary oral thin film formulation of rizatriptan used for the treatment of patients with acute migraines.
Under the deal, Grupo JUSTE has received the exclusive rights to register and commercialise RedHill Biopharma's Rizaportin Spain.
The company has also been granted the right of first refusal for a predefined term for the territories of Belize, the Carribbean, Colombia, Costa Rica, Chile, Dominican Republic, El Salvador, Guatemala, Honduras, the Middle East, Mexico, Nicaragua, Panama and Morocco.
RedHill business development and licensing senior vice-president Adi Frish said: "We are delighted to enter into this first commercialisation agreement for Rizaport and look forward to building a long-term relationship with Grupo JUSTE in support of their efforts to introduce Rizaport in Spain, along with potentially other Latin American (LATAM) and Middle Eastern territories.
"We believe that, thanks to the pleasant flavouring and convenient use of the rapidly dissolving thin-film, Rizaport could potentially become a preferred therapeutic option for migraine patients worldwide."
The initial term of the deal is for ten years from the date of the first commercial sale and will automatically renew for another term of two years.
Rizaport is expected to be commercially launched in Spain in the second half of next year. Financial terms of the agreement have not been disclosed.
Rizaport 5mg and 10mg has recently been granted marketing authorisation by the Federal Institute for Drugs and Medical Devices of Germany (BfArM) under the European Decentralised Procedure (DCP).
The authorisation was the first marketing approval ever received for Rizaport in Germany.