Novavax, Esprit Pharma to co-develop new drug for female sexual desire disorder

By E. Janene Geiss and Lisa Kerner

Philadelphia, May 19 - Novavax, Inc. said Friday that it and Esprit Pharma, Inc. have agreed to co-develop, supply and commercialize Novavax's micellar nanoparticle testosterone medicine currently in development to treat female hypoactive sexual desire disorder.

Women who suffer from hypoactive sexual desire disorder have low sexual desire. About 25% of women in the United States are estimated to be affected by this condition, according to a company news release.

Novavax's testosterone medicine, which is applied as a lotion, is in phase 2 clinical development.

Under the license agreement, Esprit said it will receive exclusive rights to market the product in North America.

Esprit said it will make certain minimum payments to Novavax upon the achievement of pre-determined clinical and regulatory milestones, and royalties on all net sales of the product.

The anticipated milestone and royalty payments from this new agreement will be similar in scope to the company's prior license agreement with Esprit executed last year, officials said.

Esprit said it will be responsible for all development costs and will lead clinical programs. Novavax said it will be responsible for manufacturing the product in its existing state-of-the-art facility located in Philadelphia.

"We are very pleased to have acquired our initial development compound in one of the areas of our current focus," Esprit chairman and chief executive officer John T. Spitznagel said in a news release.

"This compound will broaden our presence in the women's health care field."

Novavax said it first collaborated in a business relationship with Esprit late last year when Esprit licensed Novavax's estrogen therapy lotion, Estrasorb, in North America.

Esprit is an East Brunswick, N.J., specialty pharmaceutical company.

Novavax is a Malvern, Pa., pharmaceutical and vaccine products company.

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