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EQL has entered into an exclusive license agreement for the German market for EQL's product Methenamine Hippurate with Dr. Pfleger Arzneimittel, a leading German company in urology and gynaecology.
Methenamine Hippurate is a medicine indicated for the prophylaxis of recurrent urinary tract infection (rUTI). Methenamine hippurate was launched by EQL in Sweden in 2019, in the UK (via partner) in 2020 and in Norway in 2021. EQL's ambition is to offer Methenamine to all other interesting markets in Europe via out-licensing.
Methenamine hippurate is the only substance that is non-inferior to antibiotics as a prophylactic to rUTI while at the same time not increasing the risk for developing antibiotic resistant bacteria in the patient. E coli bacteria which are behind most UTI's is the most fatal among multidrug resistant bacteria (MDRB).
Dr. Pfleger Arzneimittel is a German expert in urology and gynecology. As a group-independent, medium-sized pharmaceutical company, Dr. Pfleger markets over 60 non-prescription and prescription medicines. The financial surpluses generated by the company are passed onto the foundation Doktor Robert Pfleger-Stiftung. The foundation is a supporter of medical research and sponsor of the Robert Pfleger-Forschungspreis (research prize). "We are extremely happy that we will now be able to offer our product in Germany where there is currently no alternative to antibiotics for recurrent urinary tract infection prophylaxis. We see Dr. Pfleger as the perfect partner who has the know-how, the network of specialists, and the interface to authorities that are necessary to reach the large number of women suffering from recurrent urinary tract infections." says Axel Schörling, CEO of EQL.
The agreement includes a typical license fee as an upfront payment and regulatory & reimbursement milestones, and a volume-dependent supply price generating a healthy, industrial margin for EQL. Dr. Pfleger expects to launch Methenamine Hippurate with an as of yet undisclosed EQL-registered brand within the next two years, depending on the authorities' timeline for registration and reimbursement.
EQL Pharma has ongoing advanced negotiations regarding Methenamine Hippurate with other companies for additional European countries.