Sun Pharma and dermatology-focused specialty pharmaceutical company Cassiopea have signed license and supply agreements for Winlevi (clascoterone cream 1%) in the United States and Canada.
Winlevi has been approved by the Food and Drug Administration as a novel drug with a unique mechanism of action for the topical treatment of acne in patients 12 years and older.
Under the terms of the agreements, Sun Pharma will have the exclusive right to commercialize Winlevi in the United States and Canada, and Cassiopea will be the exclusive supplier of the product. Cassiopea will receive an upfront payment of $45 million, potential commercial milestones totalling up to $190 million and customary double digit royalties. The agreements will close upon the expiration of the HSR waiting period.
Winlevi is expected to be available in the United States in the fourth quarter of 2021.
"Sun Pharma is pleased to enter into a collaboration with Cassiopea," said Abhay Gandhi, CEO of Sun Pharma North America. “Winlevi is a new class of topical medication in dermatology and will complement our existing oral acne portfolio. The addition of Winlevi further strengthens our position in the acne segment and reinforces our deep commitment to caring and making a difference in the lives of patients."
“We are very pleased to partner with Sun Pharma," said Diana Harbort, CEO of Cassiopea. "Sun Pharma has a strong established U.S. dermatology presence and will make Winlevi widely available to dermatology health care providers and their patients. Following this transaction, Cassiopea will be expecting substantial revenue streams for the foreseeable future and will be well funded to continue the development of its innovative dermatology pipeline.”