Innovus Pharma said today it granted to Ovation Pharmaceuticals an exclusive license to market and sell its topical premature ejaculation treatment EjectDelay™ in Morocco, in an up-to-$18.6 million-plus deal that reflects the companies’ second major collaboration in the North African nation announced this week.
Ovation agreed to pay Innovus an up-front fee and payments tied to undisclosed regulatory and commercial milestones, both totaling $18.6 million—plus up-front minimum purchases of EjectDelay at an undisclosed sum based upon an agreed-upon transfer price and minimum yearly purchases from Innovus.
“We look forward to signing additional partnerships in the near term as we continue to execute our commercialization strategy,” Bassam Damaj, Innovus’ president and CEO, said in a statement.
The company also said it believes EjectDelay will be the first and only benzocaine- based over-the-counter topical treatment available in Morocco specifically for premature ejaculation.
The first deal came Monday, when Innovus granted Ovation an exclusive license to market and sell Innovus Pharma's CIRCUMserum™, a daily-use topical cream for reduced penile sensitivity specifically designed for circumcised men. CIRCUMserum is blend of botanical oils and other FDA-GRAS (generally recognized as safe) ingredients packaged in a proprietary 10 mL airless metered dosing pen designed for ease and accuracy of dosing.
Ovation agreed to pay Innovus up to about $11.25 million tied to undisclosed commercial milestones, plus make upfront minimum purchases of CIRCUMserum, based upon an agreed-upon transfer price and minimum yearly minimum purchases from Innovus.
Headquartered in Casablanca, Morocco, Ovation works with multinational drug developers seeking to break into the Moroccan pharmaceutical market by in-licensing, promoting and marketing prescriptions and OTC products.
Innovus, based in La Jolla, Ca, markets over-the-counter medicines and consumer and health focused on sexual dysfunction, arthritis, hemorrhoids, cough and cold, and acne therapeutics. In addition to EjectDaily and CIRCUMserum, Innovus’ product line includes Apeaz™ for arthritis pain, Xyralid™ for hemorrhoids, zinc lozenges for cough and cold, and Innovus Acne Care™ for acne.