DENVER Ceragenix Pharmaceuticals has received a $1.5 million milestone payment from Dr. Reddy’s Laboratories due to the commercialization of the eczema cream EpiCeram in the U.S.
The agreement between the two companies was signed in late November 2007. Under the agreement, Dr. Reddy has exclusivity in the U.S. to distribute and market the drug. Ceragenix is responsible for the manufacturing and supply of EpiCeram.
Steve Porter, chairman and chief executive officer of Ceragenix stated: “We are pleased to announce the receipt of this important milestone payment. We can now begin to focus on our responsibilities for product launch.”