Novan Therapeutics, which went public last September, has signed a licensing deal for its dermatology treatment to a Japanese firm that landed the Morrisville firm an $11 million upfront payment.
The deal with Sato Pharmaceutical was announced Tuesday.
Sato receives exclusive rights to develop and commercialize in Japan the compound called SB204.
Novan also will receive milestone payments and royalties if the product is approved for sale in Japan.
“We believe this deal underscores the potential of SB204 as a truly first-in-class monotherapy for the treatment of acne and is consistent with Novan’s strategy to remain focused on commercializing our product candidates in the United States while establishing partnerships to unleash nitric oxide’s therapeutic potential worldwide,” said Novan CEO Nathan Stasko in a statement.
Novan (Nasdaq: NOVN) has completed two Phase 2 trials for SB204. It has several other products under development.
