Acrux Granted First Grant In Europe, Triggering Payment From Lilly
Main Category: Pharma Industry News
Article Date: 08 May 2006 - 7:00am (PDT)
Acrux (ASX: ACR), the Australia-based pharmaceutical company with unique technology for delivering drugs through the skin, today announced that the European Patent Office has granted the key core patent protecting Acrux's drug delivery technology. Highlighting the significance of this patent, the decision triggers a payment of AUS$0.5 million from Elanco, the animal health division of the major US pharmaceutical company Eli Lilly and Company, which has licensed Acrux's technology for the development and commercialisation of multiple animal health products worldwide.
Acrux CEO Igor Gonda commented "This is a major milestone for our entire product portfolio, giving potential commercial partners for Europe comfort that our innovative products are protected in that market until at least 2017. It is also another commercial step forward for Elanco as they develop products using our technology for animals worldwide."
Acrux retains rights in Europe for all its human pharmaceutical products and is currently seeking European partners for its daily skin spray therapies for women, addressing menopause symptoms, decreased libido and contraception.
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