Timber Pharma Development Partner in Euro Licensing Agreement

 Timber Pharmaceuticals, Inc. ("Timber" or the “Company”) (NYSE American: TMBR), a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases, today announced that its development partner, AFT Pharmaceuticals Limited (“AFT”), has signed an exclusive license and supply agreement with Desitin Arzneimittel GmbH (“Desitin”) for Pascomer® (TMB-002 topical rapamycin) for the treatment of facial angiofibromas (FA) associated with Tuberous Sclerosis Complex (TSC) in Europe.

In 2019, Timber entered into a licensing and development agreement with AFT for TMB-002 in North America. Under the terms of this agreement, Timber is entitled to receive a significant percentage of the economics (royalties and milestones) in any licensing transaction that AFT executes outside of North America, Australia, New Zealand, and Southeast Asia. The current transaction with Desitin is included in the scope of this provision.

https://www.globenewswire.com/news-release/2021/03/17/2194464/0/en/Timber-Pharmaceuticals-Development-Partner-AFT-Pharmaceuticals-Enters-into-Licensing-Agreement-for-Pascomer-TMB-002-in-Europe.html