Medytox Returns Neurotoxin Candidate Product Rights to AbbVie
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[Asia Economy Reporter Kim Ji-hee] Medytox announced on the 8th that the license agreement for the neurotoxin candidate product signed with Allergan (now an AbbVie subsidiary) in 2013 has ended. The development and commercialization of this product with AbbVie have also been discontinued.
Medytox will receive all clinical data conducted by AbbVie. Medytox will hold all rights related to the development, approval, and commercialization of the product. However, it will not return any milestones received from AbbVie.
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In 2013, Medytox signed a license agreement with Allergan, granting exclusive rights to develop and commercialize Medytox's neurotoxin candidate product worldwide except for South Korea.
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