Porton Biopharma Limited (“PBL”), the UK biopharmaceutical research, development and manufacturing company, announces that it has signed an exclusive, worldwide licensing agreement with Clinigen Group plc (“Clinigen”) for the distribution of Erwinase®/ Erwinaze® (“Erwinase”), the Company’s life-saving treatment for acute lymphoblastic leukaemia, a cancer of the blood predominantly affecting children.
Clinigen is a UK-based healthcare business with an international distribution network, a focus on cancer and a particular ability to match products and patients. This new relationship with Clinigen offers significant long-term financial and commercial benefits for PBL, enabling the Company to grow and further the supply of Erwinase. PBL will receive future sales-based milestone payments, alongside tiered royalty payments based upon worldwide net sales. The agreement represents an attractive return for PBL and its sole shareholder, the UK Government’s Department of Health and Social Care.
The new contract with Clinigen will begin on January 1st 2021. For more information see the Clinigen press release.