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Plethora Solutions Holdings plc

Drug Names(s): Lidocaine/Prilocaine Plethora (EU), PSD502

Description: PSD502 is rapidly absorbed formulation of two local anesthetics, lidocaine and prilocaine, dispensed in a metered dose spray. Both lidocaine and prilocaine stabilize neuronal membranes by inhibiting the ionic fluxes required for the initiation and conduction of impulses, thereby effecting local anesthetic action.

The rationale for the drug in premature ejaculation is that many patients exhibit abnormally heightened autonomic reflex pathways, so lowering these sensitivities with local anaesthetics represents a potential therapeutic intervention point.

Deal Structure: Sciele and Plethora
In May 2007, Sciele and Plethora announced that they signed an exclusive license agreement for the marketing of PSD502 for premature ejaculation (PE) in the United States together with an agreement for Sciele to purchase a $7 million equity stake in Plethora. Under the terms of the license agreement, Plethora will receive payments upon achievement of regulatory and sales milestones, and royalty payments on product sales. Plethora will have co-promotion rights for urologists in the United States.

Sciele and Shionogi
In September 2008, Shionogi and Sciele announced that they entered into a definitive agreement under which Shionogi will acquire Sciele. Under the terms of agreement and pursuant to a tender offer, Shionogi will acquire all the outstanding shares of Sciele's common stock at a price of $31 per share, for a total equity purchase price of approximately $1.1 billion. Upon completion of the acquisition, Sciele will become a...See full deal structure in Biomedtracker

Partners: Recordati SpA

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