Sigmoid Signs License Agreement with Pendopharm for UC Drug CyCol

Sigmoid Signs License Agreement with Pendopharm for UC Drug CyCol
shutterstock_150481931Sigmoid Pharma Limited recently signed a licensing agreement with Pendopharm, a division of Pharmascience Inc., based in Montreal, Canada, for the exclusive rights to commercialize CyCol, an oral treatment for colon diseases like ulcerative colitis. The agreement between the companies is for the Canadian market, and also includes an equity investment in Sigmoid. According to Sigmoid, CyCol uses the powerful efficacy of the known immunosuppressive drug cyclosporine in a safer format by targeting drug release towards the site of diseased tissue in the colon of patients with ulcerative colitis. The company believes that the drug will eventually reach global annual peak sales in excess of $500 million. Sigmoid has already received an advanced payment from Pendopharm and may receive other milestone payments in the future, as well as royalties regarding net sales in Canada. Pendopharm invested five million euros in the licensing agreement, at a premium to the most recent fundraising in 2014. The grants invested will be used in the development of CyCol, which is already in its phase 3 clinical trials, as well as to enlarge Sigmoid's manu
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