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.