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P57

IXICO Plc

Drug Names(s): <i>Hoodia gordonii</i> extract

Description: P57 is an appetite suppressant with novel pharmacological properties that has no effects on behavior. It is extracted from the rare Hoodia cactus, a South African plant which has been eaten by Bushmen for thousands of years to stave off thirst and hunger during long hunting trips.

Deal Structure: Phytopharm and Unilever
In December 2008, Phytopharm announced it agreed by mutual consent to terminate its agreement with Unilever for the development of Hoodia extract. All the original Phytopharm patents and rights will revert to Phytopharm. In addition, Unilever has granted Phytopharm a non-exclusive, perpetual, irrevocable, worldwide, royalty-free license, with the right to sub-license, to any Unilever patents, intellectual property rights and know-how connected with the Hoodia programme.

On December 15, 2004, Phytopharm announced that it had granted an exclusive global licence for its Hoodia gordonii extract to Unilever plc. As part of the agreement, Unilever committed to initial payments totalling approximately$12.5 million out of a potential total of $40 million in payments to Phytopharm. In addition, Phytopharm will receive an undisclosedroyalty on sales of all products containing the extract. Unilever and Phytopharm willcollaborate on a...See full deal structure in Biomedtracker


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