Bone Medical signs distribution deal

Bentley-based Bone Medical Ltd has signed an initial agreement with a South Korean company to distribute an osteoporosis product in the country.

The agreement with Hyundai Pharm Co Ltd covers the terms for the grant of a licence to sell Bone's CaPTHymone product in South Korea.

Details of the agreement terms have not been released with the transaction subject to due diligence.

However Bone said it will qualify for an up-front payment , milestone payments related to product development, approval and launch events and payments for supply of bulk product.

Bone will also receive royalties on annual sales of CaPTHymone.