Spherox Distribution Agreement

Yesterday, CO.DON AG and Haemo Pharma GmbH signed an initially five-year contract for the exclusive distribution of the cell-based drug Spherox approved throughout the EU in Austria. As a result of the conclusion of the distribution contract in fiscal years 2018 and 2019, CO.DON AG will receive at least a contractually agreed, annual and sales-independent cash inflow of around EUR 1 million. CO.DON supports Haemo Pharma GmbH throughout the sales phase and maintains defined responsibilities.

Ralf Jakobs, CEO of CO.DON AG, is very satisfied with the conclusion of the successful negotiations: “We are delighted that, together with Haemo Pharma GmbH, we have succeeded in signing a mutually effective and lucrative contract, which allows us and our partner to enter the market very successfully with our product in Austria and is based on a joint long-term partnership. By signing this contract, we can now also present a stable and secure monetary result for the Austrian market, even in anticipation of the still to be paid sufficient reimbursement for our product in Austria. We are thus following our strategy of only offering our product in markets with reasonable pricing and reimbursement on the income side.

We also see the Austrian market as a starting point for opening up selected Eastern European markets, in which we will then also rely on sales partnerships.”

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