May 21, 2018 I Pfizer has informed Karo Pharma that a new milestone has been achieved. This means that Karo Pharma receives a payment of 6 MUSD.

In December 2011, Karo Pharma entered a research collaboration and licensing agreement with the American company Pfizer. The aim of this agreement is to discover and develop compounds that inhibit the activity of the nuclear hormone receptor RORgamma, for treatment of autoimmune diseases. The development is lead by Pfizer according to the terms of the agreement. Pfizer has global exclusive rights to use, develop, manufacture and commercialize the compounds and products developed under the agreement, and holds patents relating to the compounds and products developed.
Karo Pharma can receive up to 200 MUSD when Pfizer achieves certain development and sales milestones in the project. In addition, Karo Pharma is entitled to royalties on future sales.

“We are very pleased to receive this milestone and that the project is moving forward successfully” says Anders Lönner, Chairman of the Board, Karo Pharma.

Karo Pharma is a specialty pharma company that develops and markets products to pharmacies and directly to healthcare providers. The share is listed on Nasdaq Stockholm in the Mid Cap segment.

SOURCE: Karo Pharma