Almirall and InDex agree EU licensing deal for Kappaproct

Almirall has signed a license agreement for the European marketing rights to the drug candidate Kappaproct with InDex Pharmaceuticals.

The partnership will see Almirall take responsibility for commercialising the drug in Europe, with InDex to receive an upfront payment and success-driven milestone payments, plus double-digit sales royalties.

Kappaproct is a DNA-based immunomodulatory sequence therapy that targets the toll-like receptor 9. It is being developed as a potential treatment for severe ulcerative colitis, a debilitating chronic inflammation of the large intestine.

Results from an ongoing phase III trial of the drug called Collect are expected in mid-2014.

Eduardo Sanchiz, Almirall's chief executive officer, said: "We see a significant commercial potential for this first-in-class immunotherapeutic. Kappaproct also fits well with our focused interest in gastrointestinal diseases and our aim to bring innovative medicines to the patients."

In 2013, the company experienced a year-on-year sales growth of 1.5 percent, while achieving its financial targets for the year.