Almirall Exercises its Option with Dermira to License Rights to Lebrikizumab in Europe for Atopic Dermatitis

- Lebrikizumab is a novel, investigational anti-IL-13 monoclonal antibody under development for the treatment of people with moderate-to-severe atopic dermatitis

- Dermira to receive an option exercise fee of $50 million and additional potential milestone payments and royalties

- Dermira expects to initiate Phase 3 program by end of 2019

Read full release on Dermira’s website

BARCELONA, Spain & MENLO PARK, Calif.–(BUSINESS WIRE)–Jun. 25, 2019– Almirall, S.A. (BME: ALM) and Dermira, Inc. (NASDAQ: DERM) announced today that Almirall has exercised its option to license rights to develop and commercialize lebrikizumab for the treatment of atopic dermatitis and certain other indications in Europe. Almirall and Dermira previously entered into an option and license agreement in February 2019 pursuant to which Almirall was granted this exclusive option in exchange for an upfront option fee of $30 million. As a result of Almirall’s decision to exercise its option, the company will pay Dermira$50 million, and Dermira will be eligible to receive additional payments upon the achievement of certain milestones, including $30 million in connection with the initiation of certain Phase 3 clinical studies.

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