Both Heads of Terms provide for initial payments on or around signature of a definitive agreement, with such agreements anticipated to be for five-year terms and to specify minimum sales volumes.
Following the Heads of Terms, the parties are progressing to reaching signed agreements under which Nemysis would access two experienced sales teams with existing networks and relationships focused on relevant clinical communities to support the sales and distribution of IHAT in one of Europe’s largest markets.
Marco Cartolari, Chief Operating Officer at Nemysis, remarks: “We are delighted about the interest shown in IHAT from two quality companies with significant operations in Italy, a key market for Nemysis in Europe. Upon concluding the definitive full agreements, this will position Nemysis well within Italy and provides a solid template for our approach to other jurisdictions, in line with our commercial strategy”.
Danilo Casadei-Massari, Nemysis’ Chairman and CEO, states: “This is an important step in the development of Nemysis, taking us from a pre-commercial, development-focused company to an imminently commercial company with a clear and robust path for IHAT to address iron deficiency and for revenue generation within Italy”.
About iron deficiency
Iron deficiency and iron deficiency anaemia are the most widespread nutritional deficiency, affecting ~1.2 billion people globally, and are associated with a slew of symptoms, including tiredness, lack of energy and shortness of breath and, in more severe cases, an increased risk of serious morbidity and impaired immunity.
IHAT is a nanoparticulate ferric iron supplement that respects the physiology of natural iron. It was developed as an analogue of dietary ferritin, the natural iron storage protein, and follows its route of absorption. Like ferritin, IHAT is absorbed as whole nanoparticles in the intestine and does not release ‘free’ iron, a highly redox reactive form of iron and the culprit of the gastrointestinal side effects seen with conventional oral iron supplements. IHAT is efficacious and well-tolerated, with no negative impact on the gut microbiome.
About Nemysis Limited
NEMYSIS LTD is an Irish healthcare and pharmaceutical company, focusing on nutritional and pharmaceutical solutions to tackle Iron Deficiency/Anaemia and Gluten Intolerance.
Source: Nemysis Limited