Stellar signs distributor for Uracyst in Germany and Austria

After tapping into the Portugal market earlier this week, Stellar Pharmaceuticals (OTCBB: SLXCF) signed a license agreement with medac GmbH for the distribution and sale of its Uracyst treatment for interstitial cystitis/painful bladder syndrome in Germany and Austria.

“This agreement not only represents an important revenue opportunity for Stellar and medac, but also offers hope for the first time to the thousands of German residents who are currently suffering from IC/PBS,” Stellar CEO Peter Riehl said in a statement. Germany is the single largest market in the European Community.

Medac expects to launch Uracyst, which is trademarked as Uropol in Germany and Austria, in the third quarter of this year.  Under the accord, medac will pay Stellar an upfront licensee fee in addition to a specified transfer price in exchange for the rights in both countries.  The agreement has an initial five-year term with additional two-year renewal periods.