Chiesi Farmaceutici licences Raxone for the treatment of Leber's Hereditary Optic Neuropathy worldwide except in US and Canada. Santhera Pharma

Santhera Pharmaceuticals announces that it has entered into an exclusive license agreement with Chiesi Farmaceutici, an international research-focused healthcare group (Chiesi Group), under which Chiesi Group will in-license Raxone for the treatment of LHON for a total consideration of up to CHF 105 million (EUR 93 million), comprising an upfront cash payment of CHF 50 million (EUR 44 million) and near- to mid-term sales milestone payments of up to CHF 55 million (EUR 49 million).

Chiesi Group is in-licensing the rights to Raxone in LHON and all other ophthalmological indications worldwide except the US and Canada, where Santhera retains rights. In a second step, following the completion of certain reimbursement and post-regulatory commitments on the part of Santhera, Chiesi Group has the option to fully acquire Santhera's Raxone business. The transaction enables Santhera to focus on the business areas core to its long-term growth strategy by advancing its clinical-stage neuromuscular and pulmonary programs.