Hyloris Successfully Renegotiates License Agreements for Lead Products with the Alter Pharma Group

  Acquires all royalty rights to Maxigesic IV

Assumes sole responsibility for HY-075 and HY-038 – future profit split lapses

Gains higher net profit margin for Fusidic Acid Cream in Canada

Hyloris CEO and CBDO to resign from the Board of Directors of Alter Pharma

Liège, Belgium – 24 June 2021 – Hyloris Pharmaceuticals SA (Euronext Brussels: HYL), a specialty biopharma company committed to bringing innovative treatments that offer added value to underserved patient populations, today announces that it has successfully renegotiated and unwound its earlier license agreements with the Alter Pharma Group. Hyloris will pay the Alter Pharma Group a total lump sum of €5.25 million plus €0.5 million potential earn-out, thereby waiving any further future financial obligations towards the Alter Pharma Group.

Hyloris Pharmaceuticals and the Alter Pharma Group have amended and unwound the earlier license agreements as follows:

• The patent and knowhow license agreement in relation to Maxigesic IV has been altered to forego all past commitments and all further future royalty obligations to the Alter Pharma Group in relation to Maxigesic IV. Maxigesic IV (a unique combination of 1000 mg paracetamol and 300 mg ibuprofen solution for infusion) is a novel, patented, non-opioid pain treatment, and is being commercialised by Hyloris’ partner AFT Pharmaceuticals. It is currently licensed in >100 countries and marketed in 3 countries.
• The development agreements in relation to HY-075 and HY-038: Hyloris assumes sole responsibility for the development of i) HY-075, a novel, oral liquid formulation of a commonly used drug to treat coronary heart disease; and ii) HY-038, a prefilled syringe of a commonly used product to treat a specific deficiency. Hyloris continuous to bear all costs in relation to the development of these product candidates but will no longer have to split with the Alter Pharma Group the future profit in relation to these products.
• The license agreement in relation to Fusidic Acid Cream in Canada: Hyloris continues to keep all rights to Fusidic Acid Cream in Canada but will gain a higher share of net profit as the margin paid to the Alter Pharma Group by their co-development partner will be transferred to Hyloris. There is currently no generic equivalent in Canada of Fucidin cream 2%, a topical drug containing fusidic acid indicated for the treatment of primary and secondary bacterial skin infections. Fusidic Acid Cream, part of Hyloris’ high-barrier generics portfolio, has recently entered clinical development. Hyloris intends to seek a commercial partner in Canada closer to the submission of the candidate product.