Swedish pharmaceutical company OncoZenge AB (Nasdaq First North Growth Market:ONCOZ) announced on Friday that it has entered into an exclusive licensing agreement with Avernus Pharma General Trading LLC for the commercialisation and distribution of BupiZenge (Bupivacaine oral lozenges) in the Gulf Cooperation Council (GCC) region.

Under the agreement, Avernus will distribute BupiZenge in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, subject to successful completion of a phase 3 trial and regulatory approval from the Gulf Central Committee for Drug Registration.

OncoZenge will support Avernus with regulatory filings and ensure volume supply of BupiZenge. Avernus will handle local market approvals and build marketing and distribution infrastructure.

The deal includes commercial milestone payments of up to USD130,000, triggered by initial market approval and subsequent sales benchmarks in the GCC.

OncoZenge continues to pursue global partnerships for BupiZenge, with a focus on Europe following potential regulatory approval.