Moberg Pharma has entered into a license agreement granting the Consumer Health division of Bayer exclusive European rights to MOB-015, a new topical treatment of onychomycosis based on Moberg's patented proprietary formulation of terbinafine. Bayer will be marketing, distributing and selling MOB-015 in Europe upon completion of Phase III clinical development and registration.

"We are thrilled to partner with Bayer for the European launch, as part of our vision of making MOB-015 the leading nail fungus treatment worldwide. This is the second major agreement for MOB-015 and a further validation of the significant market potential for our asset," says Peter Wolpert, Moberg Pharma's CEO.

Under the terms of the license agreement, Moberg Pharma will finalize the ongoing Phase III program, complete registration in Europe and provide supply for the product. Moberg Pharma is eligible to receive up to EUR 50 million in milestone payments, including EUR 1.5 million paid at signing. The majority of the milestone payments are contingent on sales targets, with the balance contingent on development and regulatory milestones.  Moberg Pharma will also receive supply fees including royalties.

"We are excited about the opportunity to partner with Moberg and the potential to bring this cutting-edge technology to market in order to advance one of our key categories,'' says Heiko Petersen, Head of Bayer's Global Category Business Unit Dermatology.

The European OTC market for onychomycosis drugs amounted to EUR 192 million in 2017, growing at 2.6%

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