"This is music to my ears. I was really afraid Kit

"This is music to my ears. I was really afraid Kitov would give Coeptis the boot for failing to raise funds."

Again, I don't understand what your concern was?

Kitov Signs Marketing and Distribution Agreement for its Lead Product Consensi™ in the U.S. with Coeptis Pharmaceuticals

January 03, 2019 07:19 ET | Source: Kitov Pharma Ltd.
- Kitov to receive $3.5M milestone payments and 40% - 60% of net profit on sales of Consensi ™
- Coeptis to cover all CMC, sales, and marketing expenses

TEL AVIV, Israel, Jan. 03, 2019 (GLOBE NEWSWIRE) -- Kitov Pharma (NASDAQ/TASE: KTOV), an innovative pharmaceutical company, today announced it has signed an exclusive marketing and distribution agreement with Coeptis Pharmaceuticals for the U.S. market. Coeptis will commercialize Kitov’s combination drug, Consensi™, intended to simultaneously treat osteoarthritis pain and hypertension.

The agreement provides for total milestone payments from Coeptis to Kitov of $3.5 million, of which Kitov has already received the initial milestone upon execution of the agreement, and additional milestone payments are due upon completion of an agreed Chemistry, Manufacturing, Contol (CMC) plan and upon first commercial sales in the U.S. In addition, Kitov will be paid 40%-60% of Coeptis’ net profit on Consensi™ sales. The agreement is for a term of fifteen years and may be extended for additional two-year terms and includes customary provisions, as well as certain residual rights and obligations of the parties following termination.

Consensi™, under patent protection in the U.S. until 2030, is expected to be launched during 2019, and will be the only NSAID whose labeling indicates a reduction of blood pressure and consequent risk reduction of heart attack, stroke and death. For patients, Consensi™ treats two conditions simultaneously, thereby increasing convenience (one pill instead of two) and may offer lower co-pays. The therapy may contribute to improved patient compliance and improved patient health, thereby lowering overall health care costs.

The agreement with Coeptis is Kitov’s third licensing and distribution agreement as part of its worldwide commercialization plans for Consensi™. Kitov has previously signed licensing and distribution agreements for the drug in China and South Korea, and Kitov is currently evaluating additional commercialization agreements in major markets worldwide.

“This commercialization structure for Consensi™ is one that we believe optimizes Kitov’s near and long-term cash flows, enabling us to continue to develop and deliver additional innovative pharmaceuticals, while maximizing ROI for our shareholders. We are very pleased by the opportunity to work with Coeptis and its outstanding team of executives with strong track records in the pharmaceutical industry and look forward to Consensi™ creating better patient compliance and improved treatment for people living with osteoarthritis pain and hypertension,” Kitov’s CEO, Isaac Israel stated. “In the U.S., an estimated 44% of adults have both hypertension and osteoarthritis. Currently, these patients are not well served. We believe that successful commercialization of Consensi™ in the U.S. will be a transformational value-creating event for Kitov.”

David Mehalick, CEO of Coeptis, said, “Consensi™ will substantially improve treatment for patients living with two highly prevalent chronic conditions, delivering improved clinical outcomes and enhanced economics for healthcare providers. We anticipate launching Consensi™ in the second half of 2019 and expect to have it widely available to the millions of Americans who can benefit from this combination treatment.”
https://www.globenewswire.com/news-release/20...icals.html