RLS Global AB and ConvaTec Ltd, have entered a global collaboration to commercialize ChloraSolv. ChloraSolv is a ground-breaking gentle debrider, which is already currently sold in some European countries. ChloraSolv will be included in ConvaTec's Wound HygieneTM Protocol of care for hard-to-heal wounds, which was developed by Key Opinion Leaders ("KOLs") and promoted by ConvaTec, where it will add a significant benefit in terms of debridement solutions.

The collaboration includes rights to commercialize ChloraSolv in Europe with immediate effect, and future rights to commercialize in the USA and Rest of World ("ROW") upon regulatory approval. Within the framework of the collaboration, ConvaTec will leverage its strong global presence and well-established best in class commercial infrastructure to support the commercialization and go-to-market activities for ChloraSolv. RLS will be responsible for continued research and development and ConvaTec will take the lead for go-to-market activities for ChloraSolv.

RLS will receive milestone payments of approximately SEK 40 million allocated to clinical milestones, of which approximately SEK 15 million upon signing. ConvaTec purchases ChloraSolv at a negotiated fixed transfer price and also remunerates RLS with a royalty of up to 15% of net sales. The agreement also includes that ConvaTec has a right of first refusal for distribution of ChloraSolv in other markets, as well as new future indications in wound care and other types of agreements.

The compensation for this will be market based.