Hyloris Signs agreement with Orion for Tranexamic Acid RTU in Europe

Hyloris announced that it has entered into an exclusive license and supply agreement with Orion for Tranexamic Acid Intravenous Premix RTU (TXA RTU) in major European markets. This follows a previously announced agreement with Avenacy in the US, though we note this product, being a generic, is non-core for the company, as Hyloris' main focus is on reformulation and repurposing via the 505(b)(2) pathway. The company has not disclosed specific figures under the agreement, however it will be eligible to receive milestones (we estimate a total amount of approx. € 1m) and revenue from product supply. Given this is a non-core asset for which we expect a small contribution, we reiterate our € 6 TP and HOLD rating.