Strides’ arm in pact with Australia’s SUDA Pharma for migraine drug
Strides Pharma Science on Friday said its step-down subsidiary has entered into an exclusive product development, licensing and supply agreement with Australia’s SUDA Pharmaceuticals for its novel drug SUD-001H, used in the treatment of migraine.
Strides Pharma Science said this partnership is part of its speciality portfolio for the US market. “Under the terms of agreement, SUDA will receive an upfront cash payment of $0.4 million and a further payment of $0.6 million on reaching certain milestones including the pilot first-in-man clinical study, submission and approval of the product in the US,” Strides Pharma Science said in a BSE filing.
On commercial sales, SUDA will also receive royalties plus a handling fee. SUD-001H is an oral spray of sumatriptan to treat migraine headache.
Strides Pharma Science said the product will be filed with the US Food and Drug Administration and on approval is expected to be the first fast-acting oral spray of sumatriptan in the US market. The company will have a right of first refusal for additional territories including the EU, Australia and New Zealand, Canada, South Africa and Japan.