Crescita Therapeutics announced it has received the second instalment of € $1.25 million of the up-front payment related to the out-licensing of Pliaglis in Italy, France, Spain and Portugal, from its partner, Cantabria Labs. The second installment was received following the completion of the transition activities from Galderma to Cantabria leading to the first commercial sale of Pliaglis in Italy by the Cantabria sales team.
"We are delighted with how smoothly the transition was completed," said Serge Verreault, President and CEO of Crescita. "Receiving the second instalment solidifies our cash position and allows us to be opportunistic in the pursuit of accretive acquisition targets as we continue executing our four-pillar growth strategy."