Clinigen Group and Theravance have signed an exclusive commercialization agreement for Vibativ (telavancin) in the EU and few other countries located in Europe.
The bactericidal, once-daily injectable lipoglycopeptide antibacterial agent is indicated for nosocomial pneumonia, including ventilator-associated pneumonia, believed to be caused by methicillin resistant Staphylococcus aureus when no other alternatives are suitable.
Clinigen chief executive officer Peter George said, "VIBATIV is a second product for Clinigen's Specialty Pharmaceuticals (SP) portfolio, complementing the division'santi-viral product, Foscavir."
Under the deal, Clinigen will make 5m upfront payment to Theravance that is even entitled to earn sales based royalties.
The agreement is signed for a minimum of 15 years, with an option to extend exercisable by Clinigen.
Theravance chief executive officer Rick Winningham said, "We look forward to working with Clinigen in making VIBATIV available to patients with nosocomial pneumonia in the EU."