RLS Global AB and ConvaTec Ltd sign agreement on global commercial rights for ChloraSolv, an innovative wound debrider indicated for hard-to-heal wounds
RLS Global, a medical healthcare company based in Sweden and ConvaTec, one of the world's leading companies in advanced wound care, have entered a global collaboration to commercialize ChloraSolv. ChloraSolv is a ground-breaking gentle debrider, which is already currently sold in some European countries. ChloraSolv will be included in ConvaTec's Wound Hygiene[TM] Protocol of care for hard-to-heal wounds, which was developed by Key Opinion Leaders ("KOLs") and promoted by ConvaTec, where it will add a significant benefit in terms of debridement solutions.
The collaboration includes rights to commercialize ChloraSolv in Europe with immediate effect, and future rights to commercialize in the USA and Rest of World ("ROW") upon regulatory approval. Within the framework of the collaboration, ConvaTec will leverage its strong global presence and well-established best in class commercial infrastructure to support the commercialization and go-to-market activities for ChloraSolv. RLS will be responsible for continued research and development and ConvaTec will take the lead for go-to-market activities for ChloraSolv.
RLS will receive milestone payments of approximately SEK 40 million allocated to clinical milestones, of which approximately SEK 15 million upon signing. ConvaTec purchases ChloraSolv at a negotiated fixed transfer price and also remunerates RLS with a royalty of up to 15% of net sales. The agreement also includes that ConvaTec has a right of first refusal for distribution of ChloraSolv in other markets, as well as new future indications in wound care and other types of agreements. The compensation for this will be market based.
"This collaboration is a breakthrough for RLS and aligned with our vision of being a leading research driven platform company", says Karin Fischer - CEO of RLS.
"We are pleased to establish this collaboration with one of the world's largest wound care companies and that RLS now has access to a comprehensive global distribution channel supported by a committed and competent partner", Karin continues. "RLS and ConvaTec share a common view of ChloraSolv's patient benefits and its contribution to more cost-effective wound care".
"For the past six months, ConvaTec has thoroughly evaluated the product ChloraSolv and RLS. We concluded that ChloraSolv, with its unique properties, will be an important addition to ConvaTec's Wound Hygiene[TM] offering to customers", says David Shepherd - President and Chief Operating Officer, Global Advanced Wound Care, ConvaTec.
"Gentle yet effective wound debridement is an important component to safe and effective wound healing, and it is critical that more patients have access to this treatment in the future", David continues.
"RLS has an experienced team on board, with impressive knowledge of the advanced wound care business, and has built a very clear and comprehensive roadmap to bring this product to the market. We look forward to establishing a long-term collaboration with RLS", concludes David.
RLS' long-term vision is to be a leading research driven platform company in wound care. The ambition is to expand into new indications through new research and development projects in areas such as burns and dermatology. In order to maximize our patient reach, RLS intends to work with partners to commercialize its products globally. RLS is confident in the company's platform technology and its unique features and what this can bring to patients around the world.
ABOUT CONVATEC
ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion care. Our vision, which encompasses our purpose, is: Pioneering trusted medical solutions to improve the lives we touch. Our products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit www.convatecgroup.com
TRADING PLACE AND CERTIFIED ADVISER
RLS Global's shares have been listed on the Nasdaq First North Growth Market since 17[th] May, 2017 and trading takes place under the short name RLS. Certified Adviser is Redeye Aktiebolag, phone: +46 8 121 576 90, email: certifiedadviser@redeye.se.During the period 2012-2017, the company was listed on Aktietorget.
RLS Global (publ) is obliged to make the information contained herein public pursuant to the EU market abuse regulation (MAR). The information was submitted for publication through the agency of the above contract person, 17-06-2021 08:30 CET.