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Innovus, Ovation Pharma ink license agreement in North Africa
October 2013
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LA JOLLA, Calif.Innovus Pharmaceuticals, Inc. has signed a license and distribution agreement with Ovation Pharma SARL, under which Ovation Pharma will be granted an exclusive license to market and sell CIRCUMserum in Morocco. Under the agreement, Ovation Pharma may pay up to $11.25 million to Innovus in commercial milestones, and has agreed to upfront minimum purchases of CIRCUMserum based on an agreed-upon transfer price and yearly minimum purchases.
 
"We are very excited about this major North African collaboration with Ovation Pharma. This is an important milestone in our strategy to make CIRCUMserum available worldwide and the successful continuation of the execution of our commercialization strategy of the company," Bassam Damaj, president and CEO of Innovus, said in a press release.

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