Dermatology company Medimetriks Pharmaceuticals Inc revealed on Monday the sale of the exclusive US rights for Xepi (ozenoxacin cream), 1%.

Under the terms of an agreement, the company divested the Xepi Cream to Cutanea Life Sciences Inc for up to USD30m, with USD29m payable in 2018, plus the assumption of USD5m in liabilities related to Xepi.

In conjunction with the agreement, Medimetriks retains generic rights to the Xepi Cream.

The US approved Xepi is a novel bactericidal, non-fluorinated quinolone for the treatment of impetigo, a common, highly contagious bacterial skin infection.