Cipla Ltd. unit Cipla USA Inc. signed a worldwide licensing agreement, barring East Asia, with MedRx Co. Ltd. to develop and commercialize MRX-4TZT, a Tizanidine patch for the management of spasticity.
Spasticity is a condition in which certain muscles are continuously contracted. This contraction causes stiffness or tightness of the muscles and can interfere with normal movement, speech, and gait.
Under the agreement, MEDRx would receive up to $30 million through upfront, developmental, regulatory and commercial milestones payments. It would also receive tiered royalties on the net sales of commercialized licensed products.
MEDRx has concluded phase 1 trials in U.S. and Cipla plans to initiate Phase 3 clinical trials after completion of additional phase 1 studies.