MENLO PARK, Calif., Sept. 12, 2016 (GLOBE NEWSWIRE) -- Dermira, Inc. (NASDAQ:DERM), a biopharmaceutical company dedicated to identifying, developing and commercializing innovative, differentiated therapies to improve the lives of patients with dermatologic diseases, today announced that it has entered into an exclusive option and license agreement with Takeda Pharmaceutical Company Limited (TSE: 4502). Pursuant to the terms of the agreement, Dermira has acquired an option to license exclusive worldwide rights for up to three early-stage, small-molecule programs as potential topical treatment options for dermatologic diseases.
“This transaction supports our commitment to identifying and developing differentiated product candidates that could one day provide benefit to the millions of patients living with dermatologic diseases,” said Luis Peña, chief development officer of Dermira. “We look forward to evaluating these new programs as part of our ongoing effort to identify additional opportunities, including clinical-stage programs, to enhance and broaden our existing product development portfolio.”
Under the terms of the agreement, Dermira paid Takeda an upfront fee of $1.5 million, issued in the form of shares of Dermira common stock, in exchange for the right to evaluate and conduct research on Takeda compounds directed to each of three biological targets and an option to license exclusive worldwide rights to selected compounds from each of these three programs.
If Dermira exercises its option for any program, it would obtain an exclusive, worldwide license to develop and commercialize selected compounds from that program for the topical treatment of dermatologic diseases. For each program, the company would also pay Takeda an option exercise fee and thereafter make potential development and regulatory milestone payments, as well as royalty payments on future worldwide net sales. Dermira will be solely responsible for further research, clinical development and commercialization costs related to these compounds.
About Dermira
Dermira is a biopharmaceutical company dedicated to identifying, developing and commercializing innovative, differentiated therapies to improve the lives of patients with dermatologic diseases. Dermira’s portfolio includes three late-stage product candidates that target significant unmet needs and market opportunities: CIMZIA® (certolizumab pegol), in Phase 3 development in collaboration with UCB Pharma S.A. for the treatment of moderate-to-severe chronic plaque psoriasis; DRM04, in Phase 3 development for the treatment of primary axillary hyperhidrosis (excessive underarm sweating); and DRM01, in Phase 2b development for the treatment of facial acne vulgaris. Dermira is headquartered in Menlo Park, California. For more information, please visit www.dermira.com.
In addition to our filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, we use our website (www.dermira.com) and LinkedIn page (https://www.linkedin.com/company/dermira-inc-) as channels of distribution of information about our company, our product candidates, our planned financial and other announcements, our attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and we may use these channels to comply with our disclosure obligations under Regulation FD. Therefore, investors should monitor our website and our LinkedIn page in addition to following our SEC filings, press releases, public conference calls and webcasts.
Forward-Looking Statements
The information in this press release contains forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements with respect to our objective of adding additional development candidates to our portfolio, the possible exercise by us of our option with respect to a program and, if exercised, obtaining an exclusive, worldwide license to develop and commercialize selected compounds for the treatment of dermatologic diseases, future potential clinical development programs resulting from the programs, the potential benefit of these program to patients living with dermatologic diseases, the potential payments that we may make to Takeda pursuant to the license of the programs and the potential costs related to the development of these programs. These statements deal with future events and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as those relating to results of our evaluation of and research on the Takeda compounds and our ability to further research, develop and commercialize such compounds. For a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements, you should refer to the section entitled “Risk Factors” set forth in our Annual Report on Form 10-K, Quarterly Report on Form 10-Q and other filings we make with the SEC from time to time. Furthermore, such forward-looking statements speak only as of the date of this press release. We undertake no obligation to publicly update any forward-looking statements or reasons why actual results might differ, whether as a result of new information, future events or otherwise, except as required by law.