A patent licensing agreement has been signed between Hamlet Pharma AB and Linnane Pharma AB to secure the development and commercialisation of BAMLET for use other than as a pharmaceutical.
Today, Hamlet Pharma AB has signed a patent licensing agreement with Linnane Pharma AB for the development of BAMLET; a complex formed by bovine alpha-lactalbumin and oleic acid. Hamlet Pharma AB retains the rights to develop BAMLET as a pharmaceutical but licenses to Linnane Pharma AB the rights to develop BAMLET for other, non-pharmaceutical purposes. The agreement stipulates that Linnane Pharma AB will pay an annual royalty of 10% of its gross income to Hamlet Pharma AB as long as patents protecting the use of BAMLET are valid. The patent licensing agreement supports Hamlet Pharma's strategy to focus solely on the development of drugs against various cancer types.
Linnane Pharma AB, through its unique knowledge of the science behind BAMLET, its applications, production and product profiling, is well positioned to effectively pursue the development and commercialization of BAMLET's non-pharmaceutical potential. This solution will allow Hamlet Pharma AB to focus on the clinical development of its drug candidate Alpha1H.
The chairman of the board did not participate in Hamlet Pharma's decision to enter into this agreement.