WEST CHESTER, PA — Verrica Pharmaceuticals Inc. (Nasdaq: VRCA) has granted Medomie Pharma Ltd. exclusive rights to seek regulatory approval and commercialize its skin disease treatment YCANTH in Israel, expanding the drug’s international footprint while creating a new revenue stream tied to future sales and regulatory milestones.
The agreement gives Medomie responsibility for obtaining and maintaining Israeli marketing authorization for YCANTH, a prescription treatment for molluscum contagiosum, while Verrica will manufacture and supply the product, the company announced.
Under the terms of the deal, Verrica will receive 60% of the net selling price of YCANTH products sold in Israel and is eligible for up to $8.2 million in regulatory and commercial milestone payments.
The agreement marks another step in Verrica’s strategy to commercialize YCANTH outside the United States through regional partnerships. The company retains exclusive global rights to the product outside Japan and Israel.
“We are pleased to partner with Medomie to make YCANTH available in Israel so that more patients have access to treatment for molluscum,” President and Chief Executive Officer Jayson Rieger said. He added that Verrica intends to continue expanding access to the therapy globally while working to establish it as a standard treatment for the condition in Israel.
YCANTH is a drug-device combination that delivers cantharidin through a single-use applicator for the treatment of molluscum contagiosum, a contagious viral skin disease that primarily affects children.
The product is the only healthcare professional-administered therapy approved by the U.S. Food and Drug Administration for adults and children age 2 and older with molluscum contagiosum. The approval followed two Phase 3 clinical trials involving approximately 500 patients.
YCANTH has also been approved in Japan following a separate Phase 3 study involving about 300 patients. Verrica is conducting a global Phase 3 clinical program in the United States and Japan to evaluate the therapy as a treatment for common warts.
Additional information about YCANTH is available at YCANTHPro.com.
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