The new drug application for AXIRON is currently under regulatory review by the US Food and Drug Administration for the treatment of testosterone deficiency (hypogonadism) in men.

Acrux will receive an upfront payment of $50m plus $3m on the transfer of manufacturing assets.

Acrux will be eligible for a further $87m upon the issuance of marketing authorisation by the FDA, and up to $195m in potential commercialisation milestones, as well as royalty payments on future global sales if AXIRON is successfully commercialised.

Story provided by Business Financial Newswire