Stock Market News
Inspiration Healthcare's subsidiary lands international distribution deal
Inspiration Healthcare Group announced on Wednesday that NeuroproteXeon Limited, in which Inspiration Healthcare has an 8.1% fully diluted shareholding, has completed a distribution agreement.
The AIM-traded medical device firm said the agreement with Linde AG is for the distribution of post cardiac arrest syndrome treatment AG XENEXTM (xenon by inhalation) in the European Union, United Kingdom, Switzerland, Norway and Iceland.
The agreement features a multi-tiered royalty and 23m in milestone payments.
These two milestones are approval the treatment from the European Medicines Agency and Linde AG reaching cumulative sales of 100m, provided this occurs in the first four years following approval.
Neil Campbell, chief executive of Inspiration Healthcare Group, said: "We have been involved with xenon delivery for many years and delighted with the agreement signed today with Linde which follows on from the announcement we made in October last year when NeuroproteXeon secured a licence agreement with Mallinckrodt plc. The combination of these world leading companies working with NeuroproteXeon significantly increases the chances for success."
As of 1617 BST, Inspiration Healthcare Group's shares were up 33.33% at 72.00p
The AIM-traded medical device firm said the agreement with Linde AG is for the distribution of post cardiac arrest syndrome treatment AG XENEXTM (xenon by inhalation) in the European Union, United Kingdom, Switzerland, Norway and Iceland.
The agreement features a multi-tiered royalty and 23m in milestone payments.
These two milestones are approval the treatment from the European Medicines Agency and Linde AG reaching cumulative sales of 100m, provided this occurs in the first four years following approval.
Neil Campbell, chief executive of Inspiration Healthcare Group, said: "We have been involved with xenon delivery for many years and delighted with the agreement signed today with Linde which follows on from the announcement we made in October last year when NeuroproteXeon secured a licence agreement with Mallinckrodt plc. The combination of these world leading companies working with NeuroproteXeon significantly increases the chances for success."
As of 1617 BST, Inspiration Healthcare Group's shares were up 33.33% at 72.00p
Related share prices |
---|
Inspiration Healthcare Group (IHC) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price