• SUDA grants an exclusive Licence for the rights to ZolpiMist® for commercialisation in Australia to STADA Pharmaceuticals, part of the international Pharmaceutical Company, STADA Group
• SUDA to receive an upfront payment of $170,000 and a milestone fee of $40,000 on the regulatory approval of a specific spray unit enhancement
• SUDA to receive a 10% royalty on the sales of the enhanced product
• STADA to leverage the TGA approval and commercialise ZolpiMist in Australia
PERTH, AUSTRALIA – 24 August 2021: SUDA Pharmaceuticals Ltd (ASX: SUD), a biotechnology company focused on developing therapies to treat cancer and conditions that affect the central nervous system, has entered into an exclusive License and Distribution Agreement for ZolpiMist® in Australia with STADA Pharmaceuticals Australia Pty Ltd, a member of the global, German-based STADA Group.
SUDA obtained approval from the Therapeutic Goods Administration (TGA) for ZolpiMist as announced 29 July 20201 and continues to work closely with its current licensees. SUDA will submit a further application to the TGA for a modification to the current spray unit, incorporating in the application a more economical, elegant, and user-friendly child resistant lock (CRL). It is anticipated that the new CRL will be implemented from the second batch of product produced for STADA onward.
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