Altamira Therapeutics Ltd (NASDAQ:CYTO) has entered into an exclusive licensing and distribution agreement with Nuance Pharma Ltd in the Chinese Mainland, Hong Kong, Macau, and South Korea for Bentrio.
- Bentrio is a nasal spray for protection against airborne viruses and allergens.
- Bentrio forms a protective gel layer on the nasal mucosa upon application into the nose. This thin film is designed to prevent the contact of viruses or allergens with cells.
- Under the terms of the agreement, Altamira will initially supply Bentrio to Nuance.
- Related: Altamira's Bentrio Nasal Spray Approved In Malaysia.
- Nuance will make an upfront payment of $1 million and pay to Altamira development and commercial milestones of up to $3 million and $19.5 million, respectively.
- Nuance will have the right to register and commercialize Bentrio in the Territory.
- In a second stage, Nuance will assume local production of the product for the Territory upon certain milestones.
- Once Nuance assumes local production of Bentrio, it will pay Altamira a staggered royalty on net sales in the Territory at a high-single to low-double-digit percentage.
- Price Action: CYTO shares are up 0.56% at $0.92 during the market session on the last check Friday.
