Nordic Life Science 1
LI C ENSE The company has licensed its lead candi
date LTX-315 to Verrica Pharmaceuticals. to receive an up-front payment, contingent on regulatory milestones based on achievement of specified development goals, and sales milestones. Aggregate payments will be more than $110M, as well as tiered royalty payments in the doubledigit teens, once Verrica successfully commercializes LTX-315 in dermatologic oncology indications. LTX-315 is an oncolytic peptide that is injected directly into a tumor to induce immunogenic cell death. The compound has demonstrated positive tumor-specific immune cell responses in multi-indication Phase I/II oncology trials. Verrica Pharmaceuticals is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. The company intends to focus initially on basal cell and squamous cell carcinomas as the lead indications for development of LTX-315. Verrica is solely responsible for the development, regulatory filings, and commercialization of LTX-315 in dermatology, while Lytix is responsible for manufacturing the active pharmaceutical ingredient. The license includes worldwide rights for Verrica to develop and commercialize LTX-315 for all malignant and pre-malignant dermatological indications, except for metastatic melanoma and metastatic Merkel cell carcinoma.