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DGAP-News: CO.DON AG / Key word(s): Expansion
CO.DON AG and Bauerfeind France SARL sign term sheet for cooperation in marketing and sales in France
Berlin / Teltow, 21 January 2019 - CO.DON AG and Bauerfeind France SARL have agreed on a partnership to open up the French market and distribute CO.DON AG's EU-authorised product there.
In consultation with the French authorities, the market launch is anticipated to be in two years time. The intention is for Bauerfeind France to cover these costs, while CO.DON AG will be responsible for providing the specialist support and accompanying measures.
Another key aspect of the planned agreement is a minimum order obligation for Bauerfeind France SARL, similar to that in place with the distribution partner in Austria. The new agreement also provides for a financial minimum order amount for three years after the market launch and the reimbursement by French health insurers of costs incurred by patients for CO.DON's EU-authorised product. This gives CO.DON AG greater visibility from financial year 2021 onwards, when the first revenues are anticipated in France.
Ralf Jakobs, CEO of CO.DON AG: "We see this term sheet as another successful step towards expanding our business in Europe in line with our strategic planning. We are delighted to have found an established and experienced partner for the French market in Bauerfeind France SARL, and also that we were able to sign a term sheet that is not just based on "best efforts", but which contains a minimum order obligation with reasonable pricing structures, which gives CO.DON AG a secure basis for its cost calculations in the highly complex French market. The term sheet is intended to establish a long-term partnership that is lucrative for both sides. The monetary result of the negotiations is in line with our strategy of only offering our product in markets with reasonable pricing and reimbursement policies."
CO.DON AG develops, produces and distributes autologous cell therapies for the minimally invasive repair of cartilage defects. The product being marketed is a cell therapy product for the minimally invasive treatment of cartilage damage in the knee joint that uses only the patient's own cartilage cells ("autologous chondrocytes"). CO.DON's method is currently used in over 200 clinics in Germany and more than 14,000 patients have already been treated. In July 2017 CO.DON AG received central EU marketing authorisation for this product from the European Medicines Agency (EMA). The shares in CO.DON AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227). Executive Board: Ralf M. Jakobs.
Further information is available from www.codon.de
Investor Relations and Press Contact:
Matthias Meißner, M.A.
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|
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