Abingdon, United Kingdom, 09 May 2018 - NeuroproteXeon announced today that they have completed a distribution agreement with Linde AG (Lin.de) for XENEXTM (xenon by inhalation) for Post Cardiac Arrest Syndrome (”PCAS”) for the European Union plus United Kingdom, Switzerland, Norway and Iceland.
The agreement includes a multi-tiered royalty and 23 million euros in milestone payments. The two key milestone payments are on approval for PCAS from the European Medicines Agency (“EMA”) and when Linde reaches cumulative sales of 100 million euros – provided this occurs in the first four years following approval.
Bill Burns, CEO of NeuroproteXeon, was elated with the agreement. “When we started the Company we believed the nitric oxide business model established by Linde, and employed by Mallinckrodt in North America, was going to be our go to market strategy. To be able to partner with both these companies establishes a terrific platform for mutual success.”
Urmi Prasad Richardson, Global Head of Healthcare in the Centre of Excellence, noted, “This partnership marks the continued commitment Linde has to Healthcare innovation through development of new technologies, and therapeutic uses of medical gas. It is gratifying to be developing a product that combines the potential to save lives with significant commercial viability. Linde’s portfolio continues to evolve to meet the demands of the market and our customers.”
NeuroproteXeon, Inc. is a clinical-stage pharmaceutical/device company developing xenon to improve functional capabilities and survival in patients with Post-Cardiac Arrest Syndrome (“PCAS”). The Company has a license agreement with Mallinckrodt LLC (NYSE:MNK) for the sale and distribution of xenon gas for inhalation in North America, Australia and Japan upon approval of the drug in those markets.
About Linde Healthcare
Linde Healthcare is a global leader specialising along an integrated respiratory care path. It combines pharmaceutical gases, medical devices, services and clinical care into solutions with the patient in mind. Its products and services make a difference in the lives of its patients and to its healthcare partners in the care continuum from hospital to home. A global business unit of The Linde Group, it is present in over 60 countries and generated revenues of EUR 3.361bn in 2017.
For more information, visit Linde Healthcare online at www.linde-healthcare.com
About The Linde Group
In the 2017 financial year, The Linde Group generated revenue of EUR 17.113 bn, making it one of the leading gases and engineering companies in the world, with approximately 58,000 employees working in more than 100 countries worldwide. The strategy of The Linde Group is geared towards long-term profitable growth and focuses on the expansion of its international business, with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment in every one of its business areas, regions and locations across the globe. The company is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at www.linde.com.