Actavis Specialty Brands has purchased worldwide rights for Palau Pharma's Albaconazole antifungal agent indicated for the treatment of vulvo-vaginal candidiasis, onychomycosis and other antifungal applications.
Possessing a broad-spectrum antifungal activity and a considerable safety profile, the new oral triazole Albaconazole demonstrated efficacy in patients suffering from vulvo-vaginitis, and onychomycosis.
As per the deal, Palau is eligible for initial cash payment additional future payments based on development milestones.
Palau Pharma board chairman Enrique Uriach said, "Based on clinical results to date, we believe that Albaconazole has the potential to be a best-in-class therapy for the treatment of vulvo-vaginal candidiasis and onychomycosis conditions."
Actavis Specialty Brands president Fred Wilkinson said, "Currently in Phase II trials, Albaconazole could potentially launch in the U.S. and the EU in 2017."
