EQL Pharma enters into a strategic licensing agreement with Adalvo for Mellozzan outside of Europe
EQL has entered into an exclusive license agreement for its product Mellozzan (melatonin) with Adalvo Ltd. for 89 countries outside Europe and the USA. Among the countries are large markets such as China, Brazil, Canada, Egypt and Japan. The agreement gives Adalvo exclusive rights to register, commercialise and distribute Mellozzan in these countries. If Adalvo decides to not pursue some countries the rights to Mellozzan for those specific countries shall be returned to EQL in a pre-defined reasonable timeframe.
Adalvo is a B2B specialized pharmaceutical company which, via a very large network of more than 134 local pharmaceutical companies, today supplies more than 100 countries worldwide with over 110 different medicines in total. "For EQL, which today is primarily focused on Europe, the collaboration with Adalvo gives us the opportunity to quickly reach out with Mellozzan to countries where we ourselves currently have extremely limited contact areas," says Axel Schörling, CEO of EQL. "Adalvo brings to the table its regulatory expertise and then will put its extensive commercial engine to work with a view of laying out a globalization roadmap for Mellozzan. Adalvo will be commercialising Mellozzan through its sister companies and strategic partners alike."
Anil Okay, CEO at Adalvo,” This collaboration with EQL Pharma marks a significant opportunity in our shared dedication to utilize our individual capabilities to foster innovation and bring outstanding products to the market. The deal represents a remarkable progression in our mission to transform our business, propelling it towards a future defined by a remarkable portfolio of distinctive and branded assets. We look forward to working with EQL Pharma on this exciting project”.
EQL Pharma act as manufacturer and supplier of Mellozzan for all third-party agreements signed by Adalvo on Mellozzan. The agreement also includes license income for signing certain individual key markets, as well as a profit sharing on future sales of Mellozzan.
Mellozzan contains the sleep hormone melatonin and is indicated for children who have ADHD and suffer from sleep difficulties, where so-called sleep hygiene measures have not helped. Melatonin is widely used for sleep problems throughout the world, but the ADHD paediatric indication Mellozzan has does not exist for any melatonin medicine outside of Europe. Mellozzan is also indicated for the short-term treatment of jet lag in adults.