Access Pharmaceuticals concluded an exclusive license agreement with Norgine

Access Pharmaceuticals concluded an exclusive license agreement with Norgine -

ACCESS PHARMACEUTICALS, INC. (OTCBB: ACCP), a biopharmaceutical company, today announced that it entered into a license agreement with exclusive Norgine BV, a specialty pharmaceutical company independent European leader for marketing MuGard in Europe. Under the terms of the license agreement, access will receive up to $ 10 million in milestone payments and a royalty in double figures climbing on net sales of the product of oral mucositis, MuGard in the licensed territories . Norgine will develop, manufacture and commercialize MuGard in the European Union, Switzerland, Norway, Iceland and Liechtenstein. Norgine expects MuGard launch in 2015.

Commenting on the news, Jeffrey Davis, CEO of Access Pharmaceuticals, Inc. said, "Access is pleased to announce this partnership with Norgine, a European company specializing . foreground, as it further validates our business MuGard comprehensive strategy "He added:" with the supply of products in complementary therapeutic areas and an established presence in the cancer supportive care area, Norgine is an ideal partner for and we believe this partnership will drive the commercial adoption in Europe and to facilitate access to a proven treatment option to help protect patients from oral mucositis, a debilitating side effect. "

"this new partnership with access Pharmaceuticals Inc. is an excellent opportunity to ensure that cancer patients affected by oral mucositis MuGard can access to help manage this condition for which there are effective treatment options limited to ' said Peter Stein, CEO of Norgine. He continued, "This collaboration is further evidence of the commitment of Norgine acquire specialty pharmaceuticals to strengthen its portfolio."