Valeo Pharma enters license agreement with Kaleo for rights to ALLERJECT
by CM Staff
According to ALLERJECT, over 700,000 people are estimated to be at risk for anaphylaxis due to food or insect stings alone at least once in their lifetime.
MONTREAL — Valeo Pharma Inc. has entered into a license, supply, and commercialization agreement with Kaléo Inc. for the Canadian rights to ALLERJECT, an auto-injector for the treatment of serious allergic reactions.
Under the agreement, Valeo will be responsible for all commercial and medical activities for ALLERJECT in Canada for an initial 10-year period.
“With the Canadian market for epinephrine auto-injectors exceeding $80 million per year, we believe that ALLERJECT’s peak sales potential exceeds $25 million annually representing an important factor in our revenue growth,” said Steve Saviuk, CEO in a statement.
“We expect ALLERJECT to start contributing operating margins in Q4-22.”
Frederic Fasano, Valeo’s President and COO said that the company looks forward to helping more patients access the auto-injector technology for severe anaphylactic reactions.
ALLERJECT has some features incorporated into the auto-injector to make application easier for the user in an emergency situation such as voice instructions and a retractable needle.
According to ALLERJECT, over 700,000 people are estimated to be at risk for anaphylaxis due to food or insect stings alone at least once in their lifetime.
