DALLAS and NEW YORK, Oct. 27, 2014 /PRNewswire/ -- PlasmaTech Biopharmaceuticals, Inc. (OTCBB: ACCPD), a biopharmaceutical company advancing patient care in critical areas, has entered into an exclusive license agreement with Norgine B.V., a European specialist pharmaceutical company, for the commercialization of MuGard in Australia and New Zealand. The terms of the agreement are congruent to the Company’s recent license with Norgine for MuGard in Europe. Norgine will now develop, manufacture, and commercialize MuGard in the new territories.
Commenting on the news, Mr. Scott Schorer, CEO of PlasmaTech Biopharmaceuticals stated, “Access is pleased to announce this additional partnership with Norgine, a leading European specialty company, as it further validates our MuGard global growth strategy. With strong international presence, an existing supportive cancer care product portfolio and commitment to providing cancer patients with effective treatments, Norgine is an ideal partner to have as we enter new markets, like Australia and New Zealand.”
MuGard is an oral mucoadhesive that is designed to manage oral mucositis by forming a protective hydrogel coating over the oral mucosa to shield the membranes of the mouth and tongue. Oral mucositis is a common side effect of cancer treatments, with approximately 400,000 patients in the US alone developing the condition each year.
About Norgine
Norgine is a European specialist pharmaceutical company that has been established for over 100 years. In 2013, Norgine’s total revenue was 274 million and the company employs over 1,000 people.
Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, payers and patients. Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth.
Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns an R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France.
For more information, please visit www.norgine.com
In 2012, Norgine established a complementary business Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.
NORGINE and the sail logo are trademarks of the Norgine group of companies.
About PlasmaTech Biopharmaceuticals, Inc.
Formerly Access Pharmaceuticals, Inc., PlasmaTech Biopharmaceuticals, Inc. is a biopharmaceutical company focused on advancing targeted treatments for significant unmet needs of critical patient care. Exploiting two distinct proprietary platforms, Salt Diafiltration (SDF) Process and Polymer Hydrogel Technology (PHT), PlasmaTech Bio is active in the development and commercialization of plasma-derived therapeutics and cancer supportive care products. The company has a robust product pipeline that includes two commercial stage products, MuGard and ProctiGard and multiple follow-on products in development. For more information visit, www.plasmatechbio.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include those relating to: our cash burn rate, clinical trial plans and timelines and clinical results for MuGard and ProctiGard, our ability to achieve clinical and commercial success and our ability to successfully develop marketed products. These statements are subject to numerous risks, including but not limited to PlasmaTech’s need to obtain additional financing in order to continue the clinical trial and operations and to the risks detailed in PlasmaTech’s Annual Reports on Form 10-K and other reports filed by the Company with the Securities and Exchange Commission.
Company and Media Contact:
Christine Berni
Vice President, Corporate Development
PlasmaTech Biopharmaceuticals, Inc.
(212) 786-6208
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/plasmatech-biopharmaceuticals-signs-expanded-mugard-licensing-agreement-with-norgine-for-australia-and-new-zealand-territories-155232563.html
SOURCE PlasmaTech Biopharmaceuticals, Inc.
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