Glenmark
Nasal Spray
Background
Glenmark Pharmaceuticals is a research-led global integrated pharmaceutical company.
Glenmark was developing a novel fixed-dose combination (FDC) nasal spray comprised
of an antihistamine (olopatadine hydrochloride) and a corticosteroid (mometasone
furoate). The target indication was treatment of symptoms associated with seasonal
allergic rhinitis (SAR) in patients over 12 years of age. The brand name is Ryaltris™.
Objective
Plexus Ventures was engaged to find a European commercial partner for Ryaltris™
Process
To achieve the objective, Plexus Ventures generated an extensive target list of potential
partners for Ryaltris™ in the European market. After preparing all partnering
documentation, Plexus Ventures contacted over 60 companies having a rationale for
being interested in licensing a novel, proprietary nasal spray. The targets showing
interest were then invited to enter a staged process leading to submitting offers,
conducting due diligence, and proceeding to agreement negotiation.
Outcome
In December 2020, Menarini Group, Italy-based with products present in 140 countries
around the world, was selected to execute an exclusive Licensing Agreement with
Glenmark for commercializing Ryaltris™ Nasal Spray across numerous markets in
Europe. The licensing agreement covers 33 countries in Europe including France, Italy
and Spain. Under the terms of the Agreement, Glenmark is responsible for the development and
regulatory approval of Ryaltris™ by relevant European Regulatory Authorities, while
Menarini Group is responsible for the scientific information and commercialization of
Ryaltris™ across these markets.