Palette Life Sciences and Nestlé Skin Health have signed a global licensing agreement for commercialization and development rights of Deflux, Solesta and Barrigel.
At present, Palette is engaged in the development of Lidbree for pain relief for gynecological applications.
Deflux is claimed to be the only FDA-approved injectable treatment of vesicoureteral reflux (VUR), a malformation of the urinary bladder.
VUR, which affects 1% of children across the world, can cause severe infections of the urinary tract and may lead to irreversible kidney damage.
Solesta is said to be only FDA-approved injectable treatment for fecal incontinence. It is also approved for commercialization in Europe.
Fecal incontinence is a debilitating health problem, which is affecting around 2% of people across the world.
Barrigel is a biodegradable injectable treatment developed to protect rectal wall while treating prostate cancer with radiation.
The treatment secured approval in Europe, and is being further developed for future market launch in the US.
Palette Life Sciences will involve in the commercialization of Deflux and Solesta, and will also begin activities to enable worldwide commercialization of Barrigel.
The license will allow the firms to develop new products for management of urological and gastroenterological conditions, as well as protect adjacent healthy organs and tissue during radiation therapy for cancer.
All products are based on the Nestlé Skin Health’s Nasha technology. Millions of patients were treated with NASHA based products for various medical conditions across the globe.
Restylane dermal filler is the Nestlé Skin Health’s major Nasha product marketed by the company.
Nestlé Skin Health will continue to produce the licensed products on behalf of Palette Life Sciences.
As per terms of the deal, Pharmanest will be renamed Palette Life Sciences, and will operate offices in Sweden and the US.
Palette Life Sciences lead investor Mattias Klintemar said: “We are very pleased with the transaction with Nestlé Skin Health. It represents a first and significant step in the development of a global medical device company with significant commercial assets in several underserved medical conditions.”