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news.Nuo Therapeutics has signed an exclusive licensing and distribution agreement with Japan-based Rohto Pharmaceutical for the first platelet and plasma therapy system, Aurix.
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As part of the deal, Nuo will receive an upfront payment from Rohto in return for an exclusive license and the right to develop and commercialize Aurix in the Japanese market.
Nuo Therapeutics chief executive officer Martin Rosendale said: "This agreement is a significant validation of Aurix from a leader in the Japanese healthcare market, and an important milestone as we expand the product’s footprint outside of the US.
"We are excited to work with the team at Rohto to support its regulatory initiatives, and to share in the longer-term commercial success of Aurix as it enters Japan."
Based on the net sales of Aurix in Japan, the agreement also contemplates additional royalty payments and additional future cash payment in the event specific milestones are met.
In exchange, Nuo will pay a one-time fee to Millennia Holdings (Millennia) to terminate the September 2009 license and distribution agreement.
The company said that Millennia has been instrumental in establishing the advanced wound care market in Japan, and will continue to work with Rohto to develop the market for Aurix.
In addition, Rohto has assumed all responsibility for securing the Marketing Authorization (MA) from Japan’s Ministry of Health, Labour and Welfare (MHLW), while Nuo will offer relevant product information, as well as clinical and other data to support Rohto’s MA application.