Esperion Therapeutics announced it has entered into a license and distribution agreement with HLS Therapeutics for the exclusive rights to commercialize NEXLETOL* and NEXLIZET* in Canada. Under the terms of the agreement, Esperion will receive an upfront payment, near-term milestone and tiered royalties on product sales. Esperion will be responsible for supplying finished product to HLS Therapeutics at a profitable transfer price.
According to the Government of Canada, approximately one in 12 Canadian adults aged 20 and over, which represents 2.6 million people, are living with diagnosed heart disease. It is the second leading cause of death in Canada, with approximately 14 Canadian adults aged 20 and over dying every hour due to diagnosed heart disease.
“We are excited about the opportunity to partner with Esperion to bring these innovative treatments to the many Canadians suffering from, or at risk of, cardiovascular disease,” said Craig Millian, CEO at HLS.
“We’re thrilled to collaborate with HLS to expand the reach of our therapies to patients throughout Canada who are at risk of cardiovascular disease,” said Sheldon Koenig, President and CEO of Esperion. “This collaboration underscores and supports our commitment to expand global access to our potentially life-saving therapies.”
Under the terms of the license and distribution agreement, Esperion will grant HLS Therapeutics exclusive commercialization rights to NEXLETOL and NEXLIZET in Canada. HLS Therapeutics will be responsible for commercialization, including reimbursement and marketing.
Esperion will receive an upfront payment and be eligible for milestone payments of up to approximately $5 million along with tiered royalties on product sales.
*NEXLETOL® (bempedoic acid) and NEXLIZET® (bempedoic acid and ezetimibe) are the commercial brand names in the U.S. The brand names in Canada to be confirmed upon approval by Health Canada.
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