- Diurnal Group secured a marketing and distribution agreement with leading specialised Australian pharmaceutical company Emerge Health for the commercialisation of Diurnal's novel therapies, Alkindi and Chronocort in Australia and New Zealand.

Australia and New Zealand represent significant market opportunities for Diurnal. There are around 1,750 patients in these territories suffering from paediatric adrenal insufficiency (AI) and congenital adrenal hyperplasia (CAH), providing an estimated total market opportunity for Alkindi and Chronocort of approximately $10m per annum.

Under the terms of the agreement, Emerge Health will receive the exclusive rights to market and sell Alkindi and Chronocort in Australia and New Zealand. Diurnal will provide Emerge Health with product for sale in Australia and New Zealand from its established European supply chain.

Following European marketing authorisation, announced on 13 February 2018, Emerge Health will submit Alkindi for marketing authorisation in Australia and New Zealand during 2018. The submission will be based on the European regulatory dossier and published clinical trial data, with the first potential for approval in Australia in 2020.

Martin Whitaker, Chief Executive Officer of Diurnal, said: 'Emerge Health's focus on niche, high quality medicines means that they are the ideal strategic partner to help us commercialise our novel products in the important Australian and New Zealand healthcare markets.'

'These territories represent an estimated total market opportunity of $10 million for Alkindi and Chronocort. Together with our commercialisation agreement with Medison Pharma in Israel, we continue to build our marketing and distribution capabilities in high value markets outside our core European and US territories through local distribution arrangements.'

At 8:43am: [LON:DNL] Diurnal Group Plc share price was +4p at 177.5p

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