MONTREAL and MARLBOROUGH, Mass., June 05, 2025 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. (TSX: GUD) ("Knight"), a pan-American (ex-USA) specialty pharmaceutical company, and Sumitomo Pharma America Inc. ("SMPA") announced today that Knight and SMPA's affiliates have entered into exclusive license and supply agreements to commercialize MYFEMBREE® (relugolix/estradiol/norethindrone acetate), ORGOVYX® (relugolix) and vibegron in Canada, as well as an asset purchase agreement under which Knight will acquire certain mature products (the "Mature Products", together with MYFEMBREE®, ORGOVYX® and vibegron, the "Products"). For the year ended March 2025, the Products generated C$11.2 million in revenue.
Under the terms of the agreements, Knight will have the exclusive rights to distribute, promote, market and sell the Products in Canada. Knight will begin commercial activities following a transition period from Sumitomo Pharma Canada. The consideration for the transaction includes an upfront amount of C$25.4 million and Knight may pay future contingent payments of up to C$15.75 million upon achieving certain sales milestones. In addition, Knight is expected to pay an estimated C$7 million for inventory to be acquired over the next eight months.
"We are pleased that Knight will continue to bring this suite of products to patients and health care providers throughout Canada," said Tsutomu Nakagawa, Ph.D., President and Chief Executive Officer of SMPA. "This divestiture is aligned with our long-term strategy to focus on and grow our core brands in the U.S. and to accelerate commercialization of our pipeline assets for oncology, regenerative medicine and cell therapy."
"This transaction is another great example of our continued execution on our growth strategy of building a portfolio of innovative products," said Samira Sakhia, President and Chief Executive Officer of Knight Therapeutics Inc. "MYFEMBREE®, ORGOVYX® and vibegron are highly synergistic with our current Canadian business in women's health with IMVEXXY® and BIJUVA®, as well as in urology and prostate cancer with TRELSTAR®. We look forward to expanding access to these innovative therapies to patients and healthcare providers."
Conference Call Notice
Knight will host a conference call and audio webcast to discuss the acquisition on Thursday, June 5, 2025, at 8:30 am ET. Knight cordially invites all interested parties to participate in this call.
Date: Thursday, June 5, 2025
Time: 8:30 a.m. ET
Telephone: Toll Free 1-888-699-1199 or International 1-416-945-7677
Webcast: www.knighttx.com or Webcast
This is a listen-only audio webcast. Media Player is required to listen to the broadcast.
Replay: An archived replay will be available for 30 days at https://www.knighttx.com
About MYFEMBREE®
MYFEMBREE® (relugolix 40 mg, estradiol 1 mg, and norethindrone acetate 0.5 mg tablets) was approved by Health Canada in September 2023 making it the first oral prescription treatment for both the management of heavy menstrual bleeding associated with uterine fibroids and for the management of moderate to severe pain associated with endometriosis in pre-menopausal women. According to IQVIA, sales of MYFEMBREE® in Canada were approximately C$2.9 million in 2024.
About ORGOVYX® (relugolix)
ORGOVYX® (relugolix 120mg tablets) is the first and only oral gonadotropin-releasing hormone (GnRH) receptor antagonist approved by Health Canada in October 2023 for the treatment of adult patients with advanced prostate cancer. As a GnRH antagonist, ORGOVYX® blocks the pituitary GnRH receptor, thereby reducing the release of the luteinizing and follicle-stimulating hormones, and consequently reducing the production of testicular testosterone, a hormone known to stimulate the growth of prostate cancer. According to IQVIA, sales of ORGOVYX® in Canada were approximately C$1.2 million in 2024.
About Vibegron
In the U.S., vibegron 75mg tablets (tradename GEMTESA®) has been indicated for the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency in adults since April 2021. Vibegron works by selectively targeting ß3 adrenergic receptors to reduce OAB symptoms through the relaxation of the bladder detrusor muscle to increase bladder capacity.
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing pharmaceutical products for Canada and Latin America. Knight's Latin American subsidiaries operate under United Medical, Biotoscana Farma and Laboratorio LKM. Knight Therapeutics Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.knighttx.com or www.sedarplus.ca.
Forward-Looking Statement
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2024, as filed on www.sedarplus.ca. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information or future events, except as required by law.
About Sumitomo Pharma
Sumitomo Pharma Co., Ltd., is a global pharmaceutical company based in Japan with key operations in the U.S. (Sumitomo Pharma America, Inc.), Canada (Sumitomo Pharma Canada, Inc.), and Europe (Sumitomo Pharma Switzerland GmbH) focused on addressing patient needs in oncology, urology, women's health, rare diseases, psychiatry & neurology, and cell & gene therapies. With several marketed products in the U.S., Canada, and Europe, a diverse pipeline of early- to late-stage assets, we aim to accelerate discovery, research, and development to bring novel therapies to patients sooner. For more information on SMPA, visit our website https://www.us.sumitomo-pharma.com or follow us on LinkedIn.
SUMITOMO PHARMA is a trademark of Sumitomo Pharma Co., Ltd., used under license. SUMITOMO is a registered trademark of Sumitomo Chemical Co., Ltd., used under license. Sumitomo Pharma America, Inc. is a U.S. subsidiary of Sumitomo Pharma Co., Ltd. GEMTESA, MYFEMBREE and ORGOVYX are trademarks of Sumitomo Pharma Switzerland GmbH.
| For more information: Investor Contact for Knight Therapeutics Inc.: | ||
| Knight Therapeutics Inc. | ||
| Samira Sakhia | Arvind Utchanah | |
| President & Chief Executive Officer | Chief Financial Officer | |
| T: 514.484.4483 | T. +598.2626.2344 | |
| F: 514.481.4116 | ||
| Email: IR@knighttx.com | Email: IR@knighttx.com | |
| Website: www.knighttx.com | Website: www.knighttx.com | |
| For SMPA Thomas Hill Vice President, Head of Corporate Communications 949.239.3598 thomas.hill@us.sumitomo-pharma.com |
