Anika, Galderma Agree to Terminate Elevess Agreement

Anika Therapeutics has agreed to terminate its agreement with Galderma for the Elevess family of products.

Elevess is the first injectable soft-tissue filler for facial wrinkles, scar remediation and lip augmentation to incorporate lidocaine, a local anesthetic.

Anika will reacquire the worldwide control of the future development and marketing of Elevess and pay Galderma approximately $4.3 million, Anika said.

The agreement is subject to certain closing conditions and is expected to close before the end of November.