Slough-based pharmaceutical company Indivior has signed a licensing agreement to sell its schizophrenia drug to the Canadian market.
The deal gives HLS Therapeutics, based in Toronto, exclusive rights to file and commercialise Perseris, which contains the active ingredient risperidone.
Indivior will receive $1m (£770,000) upon signing the agreement and $4m (£3.1m) upon achieving certain regulatory milestones. The company is also set to receive double-digit royalties based on annual sales of Perseris.
Chief executive Shaun Thaxter said: “We understand the challenges of patients living with schziophrenia and are pleased that Perseris may become available to Canadian patients through HLS.
“HLS has an experienced clinical and regulatory team with a strong track record of commercialization success in Canada, as well as a specialized team dedicated to psychiatry.
“In addition, there are significant synergies between Perseris, HLS’s product Clozaril and HLS’s unique CSAN platform. Given these advantages, we are confident that HLS is the right partner for Indivior and we look forward to the potential growth we see for Perseris in Canada with HLS.”