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Starpharma - Waiting To Shine?


Starpharma (SPHRY.OB), on Thursday, announced that it has licensed the sales and marketing rights of VivaGel BV in the United States to ITF Pharma, a subsidiary of Italfarmaco S.p.A, a privately held European specialty pharmaceutical company.

VivaGel BV is a non-antibiotic, water-based vaginal gel for the treatment of bacterial vaginosis and prevention of recurrent bacterial vaginosis.

In the U.S., VivaGel BV is under priority review by the FDA - with a decision expected in early January 2019.

As per the deal terms, the Australian biotech company Starpharma is entitled to receive up to US$101 million from ITF Pharma in regulatory approval and commercialization milestones in addition to escalating double-digit royalties on sales.

The global market for bacterial vaginosis treatment is estimated to be roughly US$750 million, and about US$1 billion for prevention of recurrent bacterial vaginosis, according to the Company.

VivaGel BV is already approved in Europe and Australia. The product is licensed to Mundipharma in Europe, and to Aspen Pharmacare in Australia under the brand name Fleurstat.

Antibiotics like Flagyl, Cleocin, MetroGel-Vaginal, and Solosec are some of the other approved medications for bacterial vaginosis.

Will Starpharma's VivaGel BV pass FDA muster, and get a slice of the U.S. vaginitis therapeutics market?

SPHRY.OB closed Wednesday's trading at $9.85, unchanged from the previous day's close.

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