PharmaMar shall receive an upfront payment and is eligible for additional remunerations, including regulatory milestone payments.
- PharmaMar shall receive an upfront payment and is eligible for additional remunerations, including regulatory milestone payments.
Madrid, December 13th, 2019. – PharmaMar (MSE:PHM) has announced today a licensing agreement with Megapharm Ltd. to commercialize the marine-derived anticancer drug Yondelis® (trabectedin) in Israel and the territory known as the Palestinian Authority.
Under the terms of the agreement, PharmaMar shall receive a non-disclosed upfront payment and will be eligible for additional remunerations, including regulatory milestone payments. PharmaMar will retain exclusive production rights of the product and will sell the product to Megapharm for its clinical and commercial use.
This new agreement follows PharmaMar’s announcement on 26 August, regarding the agreement entered with Janssen Products LP (Janssen), by which PharmaMar recovered the commercialization rights of the product in more than 40 countries, formerly licensed to Janssen, where trabectedin has already been approved.
Trabectedin is currently provided to patients in Israel for the treatment of Soft Tissue Sarcoma. Former product licensee Janssen will continue to commercialize the product in those territories until its marketing authorizations are formally transferred to Megapharm.
According to Luis Mora, Managing Director of PharmaMar´s Oncology Business Unit, “the recovery of these markets allows us to enter into new agreements with local partners that will bring us greater commercial efficiency, in this case with Megapharm in Israel, with whom we already have another agreement for the commercialization and distribution of Aplidin® in the same territory”.
Miron Drucker, CEO of Megapharm said: “Trabectedin is regarded as a global standard of care to treat soft tissue sarcoma, and we are proud to extend our collaboration with PharmaMar”.
Legal warning
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About PharmaMar
Headquartered in Madrid, PharmaMar is a biopharmaceutical company, focused on oncology and committed to research and development which takes its inspiration from the sea to discover molecules with antitumor activity. It is a company that seeks innovative products to provide healthcare professionals with new tools to treat cancer. Its commitment to patients and to research has made it one of the world leaders in the discovery of antitumor drugs of marine origin.
PharmaMar has a pipeline of drug candidates and a robust R&D oncology program. It develops and commercializes Yondelis® in Europe and has other clinical-stage programs under development for several types of solid cancers: lurbinectedin (PM1183), PM184 and PM14. With subsidiaries in Germany, Italy, France, Switzerland, Belgium, Austria and the United States. PharmaMar wholly owns other companies: GENOMICA, a molecular diagnostics company; Sylentis, dedicated to researching therapeutic applications of gene silencing (RNAi). To learn more about PharmaMar, please visit us at www.pharmamar.com.
About Megapharm Ltd.
Megapharm Ltd. is a leading Israeli private pharma marketing company, founded in 1989, exclusively representing a number of major American, European and Japanese pharmaceutical companies. Megapharm provides its partners with a full set of commercial capabilities, including registration, market access and sales and marketing. Megapharm has demonstrated dynamic sales growth by developing a strong company presence and expertise in selected therapeutic areas (i.e. Oncology, Hematology, CNS, Orphan and metabolic drugs) and a proven track record for obtaining national reimbursement and inclusion of its products in Health Funds in Israel. Additional information can be found at: www.megapharm.co.il
About Yondelis®
Yondelis® (trabectedin) is a novel, synthetically produced antitumor agent originally isolated from Ecteinascidia turbinata, a type of sea squirt. Yondelis® exerts its anticancer effects primarily by inhibiting active transcription, a type of gene expression on which proliferating cancer cells are particularly dependent.
Media Contact:
Alfonso Ortín – Communications Director aortin@pharmamar.com Mobile: +34 609493127
Miguel Martínez-Cava – Communication Manager mmartinez-cava@pharmamar.com Mobile: +34 606597464
Phone: +34 918466000
Investor Relations:
José Luis Moreno Martínez-Losa – Capital Markets & Investor Relations Director
investorrelations@pharmamar.
Phone: +34 914444500
