Luoda has today signed a major Distribution & Development Agreement with a Global Top 10 Pharmaceutical Company and a leader in animal health. The Agreement sets out a partnership framework for commercialising one of Luoda’s most developed pipeline product, its pimobendan liquid formulation
While the terms of the agreement are confidential, it does provide for milestone payments to Luoda as it pursues registration of the formulation with the Australian Pesticides and Veterinary Medicines Authority (APVMA), scheduled to take place mid next year. The agreement also provides a licence to the pharmaceutical company to sell the product in the Australian market, with an option for the international market, in return for royalty payments to Luoda.
One of Luoda’s founders, Nick Bova, said that he was delighted about finalising the deal and that this “now sets a blue print for Luoda” in its strategy for commercialising the other products in its pipeline.