Almirall in-licenses Dermira's European rights to Lebrikizumab

|About: Dermira (DERM)|By:, SA News Editor

Almirall, S.A. (OTC:LBTSF) and Dermira (NASDAQ:DERM) have entered into an option and license agreement under which Almirall has acquired an option to exclusively license rights to develop and commercialize lebrikizumab for the treatment of atopic dermatitis and certain other indications in Europe.

In exchange, Dermira will receive an upfront option fee of $30M. Additionally, if Almirall exercises its option following Phase 2b clinical study of lebrikizumab, Dermira will receive a $50M option exercise fee and will be eligible to receive additional milestone payments, as well as double-digit royalties.

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