Posted: 16 August 2023
Starpharma (ASX: SPL, OTCQX: SPHRY) today announces it has negotiated a commercial settlement agreement with Mundipharma in relation to the VivaGel® BV product.
Under the settlement:
- Starpharma will receive a US$4.25M (~A$6.54M) cash payment from Mundipharma.
- Starpharma will terminate its VivaGel® BV licence and supply agreements with Mundipharma, regaining all commercial rights to VivaGel® BV, enabling Starpharma to sign new marketing arrangements for the product.
Starpharma is well positioned to sign new commercial arrangements for VivaGel® BV with other healthcare companies in these territories, with commercial interest having already been expressed in the product. VivaGel® BV is now registered in more than 50 countries. Starpharma’s decision to terminate this agreement follows the recently announced sale of Mundipharma’s consumer health product portfolio to iNova Pharmaceuticals.
VivaGel® BV is a novel, non-antibiotic vaginal gel developed in Australia by Starpharma for both the treatment of bacterial vaginosis (BV) and the prevention of recurrent BV and its symptoms. BV is the most common vaginal infection worldwide, affecting one in three women globally. BV is associated with causing complications related to the reproductive health of women.
Dr Jackie Fairley, CEO of Starpharma, commented: “Starpharma is pleased to monetise the VivaGel® BV licence following negotiations with Mundipharma over recent months. The arrangement involves a cash payment of US$4.25M (A$6.5M), a substantial financial contribution to Starpharma. This cash payment is in addition to the US$3.1M in milestones already received from Mundipharma for the product. This commercial development represents a positive step towards expanding VivaGel® BV sales, with Starpharma now free to engage with healthcare companies that have a strong consumer franchise and have already expressed interest in VivaGel® BV.”
VivaGel® BV is an Australian innovation that continues to be marketed as Fleurstat BVgel by Aspen in Australia and New Zealand.
View or download the ASX Announcement here.
