Nuevolution A/S is partnering with Almirall SA to develop and commercialize its ROR?t program for the treatment of inflammatory skin diseases and disorders as well as psoriatic arthritis.
The Nuevolution AB (publ) subsidiary will receive 109.4 million Swedish kronor in upfront payment and up to a further 1.7 billion kronor in milestone-related payments. The company is also eligible for tiered commercial sale milestone payments of up to 2.6 billion kronor in addition to tiered royalties on future net sales.
Almirall will have an exclusive option to research additional applications of ROR?t inhibitors in the field of dermatology while Nuevolution can research uses in other fields.
As of Dec. 13, US$1 was equivalent to 9.15 Swedish kronor.