Hyderabad based Dr. Reddy's Laboratories said it has signed a commercialization deal with Australi's Hatchtech for the latter's prescription head lice product XEGLYZE Lotion.
As part of this agreement, Dr. Reddy's Lab will pay Hatchtech $10 million, followed by up to $50 million based on per-commercialization milestones and an undisclosed amount based on post-commercialization milestones linked to achievement of annual net sales targets.
The company said in a statement that Hatchtech in September 2014 had announced positive results from its two pivotal phase three clinical studies, evaluating XEGLYZE Lotion as a potential treatment for head lice infestation.
XEGLYZE Lotion is a topical formulation contains ABAMETAPIR, an inhibitor of metalloproteases, has demonstrated both ovicidal and lousicidal activity and offers potential for a more effective treatment using only a single application.
