Acer Therapeutics regains exclusive worldwide rights to OLPRUVA

Acer Therapeutics announced it has entered into definitive agreements to reacquire worldwide development, commercialization and economic rights to OLPRUVA or sodium phenylbutyrate, from Relief Therapeutics, excluding the European Union, Liechtenstein, San Marino, Vatican City, Norway, Iceland, Principality of Monaco, Andorra, Gibraltar, Switzerland, United Kingdom, Albania, Bosnia, Kosovo, Montenegro, Serbia and North Macedonia . OLPRUVA is approved in the U.S. for the treatment of certain urea cycle disorders . Under the prior Collaboration and License Agreement between the parties, Acer would have paid Relief 60% of Acer’s OLPRUVA net profits in the U.S., Canada, Brazil, Turkey and Japan , while Acer would have received a 15% royalty on Relief’s net sales in the rest of the world . Acer and Relief have now agreed to terminate the CLA, where Acer is no longer required to pay Relief 60% of OLPRUVA net profits in the Acer territories and have regained all development and commercialization rights in rest of the world, excluding the Geographical Europe. In return, Relief will receive an upfront payment by Acer of $10 M , to be made within 5 business days of the signature date, with an additional payment of $1.5 million due on the first-year anniversary of the $10 M payment. Acer has also agreed to pay a 10% royalty on net sales in the Acer territories, and 20% of any value received by Acer from certain third parties relating to OLPRUVA licensing or divestment rights, all of the foregoing which are capped at $45 M , for total payments to Relief of up to $56.5 million. Additionally, Acer and Relief have entered into a new Exclusive License Agreement in which Relief will retain development and commercialization rights for OLPRUVA.. “Regaining exclusive worldwide rights to OLPRUVA without profit sharing, subject only to Relief’s rights in the Geographical Europe, unlocks value for Acer as we continue the U.S. launch of OLPRUVA and begin to provide treatments to UCD patients in need,” said Chris Schelling, CEO and Founder of Acer. “