MOBERG DERMA SIGNS COMMERCIAL AGREEMENT FOR NAIL FUNGUS PRODUCT K101 WITH LEADING NORDIC OTC COMPANY

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Moberg Derma AB today announces a license and co-promotion agreement with a leading Nordic OTC company for K101 - Moberg Derma’s novel treatment for nail fungus (onychomycosis). In the agreement, Moberg Derma will be responsible for supply of the product and promotion to prescribers, while its Nordic partner will be responsible for promotion to consumers. Financial terms are not disclosed but include up-front and milestone payments as well as royalty components.

“This collaboration provides an excellent platform to make K101 the leading product for treatment of nail fungus in the Nordic countries. Our new partner has an impressive track record in promotion of non-prescription products and the resources and capabilities to successfully promote K101", says Moberg Derma's President and CEO, Peter Wolpert. "This deal also enables Moberg Derma to build its Nordic market organisation in collaboration with a strong partner.”

About K101 and nail fungus
K101 has the potential to become first-line treatment for nail fungus. The safety and efficacy of K101 was recently demonstrated in a phase III trial, in which 494 patients were treated during six months with K101 or a placebo. In the trial, significantly more patients receiving K101 were cured of their fungal infection (p=0.001). In addition, the proportion of patients who considered that their condition had improved was significantly larger among patients treated with K101 at all follow-up time points.

Nail fungus is a common condition and afflicts 8-14% of the general population. Since many patients do not seek treatment, the untapped market potential is significant and there is a considerable need for new and efficacious topical treatments. The estimated market exceeds USD 1 billion.

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