Altamira, Nuance Pharma Ink Licensing Pact For Bentrio In China, Additional Asian Markets

Altamira Therapeutics Ltd CYTO has entered into an exclusive licensing and distribution agreement with Nuance Pharma Ltd in the Chinese Mainland, Hong Kong, Macau, and South Korea for Bentrio.

• Bentrio is a nasal spray for protection against airborne viruses and allergens.
• Bentrio forms a protective gel layer on the nasal mucosa upon application into the nose. This thin film is designed to prevent the contact of viruses or allergens with cells.
• Under the terms of the agreement, Altamira will initially supply Bentrio to Nuance. 
• Related: Altamira's Bentrio Nasal Spray Approved In Malaysia.
• Nuance will make an upfront payment of $1 million and pay to Altamira development and commercial milestones of up to $3 million and $19.5 million, respectively. 
• Nuance will have the right to register and commercialize Bentrio in the Territory. 
• In a second stage, Nuance will assume local production of the product for the Territory upon certain milestones. 
• Once Nuance assumes local production of Bentrio, it will pay Altamira a staggered royalty on net sales in the Territory at a high-single to low-double-digit percentage.
• Price Action: CYTO shares are up 0.56% at $0.92 during the market session on the last check Friday.