MADRID, July 27, 2018 /PRNewswire/ --
- PharmaMar will receive an up-front payment of 2 million euros
- This agreement will replace the current agreement between PharmaMar and Swedish Orphan Biovitrum International
PharmaMar (MCE: PHM) has announced today the signing of an agreement with Impilo Pharma, a part of Immedica Group, for the exclusive promotion and distribution of its antitumour compound, Yondelis®, throughout the Nordic countries and Eastern Europe. This agreement will come into effect in six months.
According to the terms of the agreement, PharmaMar will receive an up-front payment of 2 million euros. Impilo Pharma will be responsible for the promotion and the distribution of Yondelis® throughout the above mentioned territories, and PharmaMar will be the manufacturer of the product.
This agreement will replace the current contract between PharmaMar and Swedish Orphan Biovitrum International for the promotion and distribution of Yondelis® in the Nordic countries and Eastern Europe.
"This agreement will help us to strengthen the sales of Yondelis® even more throughout various European Countries, also maintaining our compromise with the patients, facilitating their access to novel therapies," explains Luis Mora, Managing Director of the Oncology Business Unit at PharmaMar.
Headquartered in Madrid, PharmaMar is a world-leading biopharmaceutical company in the discovery and development of innovative marine-derived anticancer drugs. The company has a pipeline of drug candidates and a robust R&D oncology program. PharmaMar develops and commercializes YONDELIS® in Europe and has other clinical-stage programs under development for several types of solid and hematological cancers, Zepsyre® (lurbinectedin, PM1183), PM184 and PM14. PharmaMar is a global biopharmaceutical company with subsidiaries in Germany, Italy, France, Switzerland, United Kingdom, Belgium, Austria and the United States. PharmaMar fully owns other companies: GENOMICA, a leading molecular diagnostics company; Sylentis, dedicated to researching therapeutic applications of gene silencing (RNAi); and two other chemical enterprises, Zelnova Zeltia and Xylazel. To learn more about PharmaMar, please visit us at http://www.pharmamar.com.
About YONDELIS® (trabectedin)
YONDELIS® (trabectedin) is a multimodal, synthetically produced antitumor agent, originally derived from the sea squirt, Ecteinascidia turbinata. The drug exerts its activity by targeting the transcriptional machinery and impairing DNA repair. It is approved in close 80 countries in North America, Europe, South America and Asia for the treatment of advanced soft tissue sarcomas as a single-agent and for relapsed ovarian cancer in combination with DOXIL®/CAELYX® (doxorubicin HCl liposome injection) in the European Union. Under a licensing agreement with PharmaMar, Janssen Products, L.P. has the rights to develop and sell YONDELIS® globally except in Europe, where PharmaMar holds the rights, and in Japan, where PharmaMar has granted a license to Taiho Pharmaceuticals.
About Immedica AB
Immedica is a fast growing private European niche pharma company. The company is based in Stockholm, Sweden, and has a pan-European commercial coverage with the Nordics as its stronghold.
Immedica provides significant know-how and experience from commercialization of niche/specialty care products across the European and Middle East territories, and the company's management team has an outstanding track record of operating niche pharma products in Europe. Immedica has capabilities to provide optimal access of specialty care medicines to patients with significant medical needs, including key areas such as regulatory affairs, pharmacovigilance, medical affairs, pricing & reimbursement, and product distribution.
Today, Immedica manage many of its products via operations at Medical Need Europe, a niche/orphan pharma company recently acquired. Immedica's main owner is Impilo AB, a private Swedish Health Care investment company established in 2017, and with more than SEK 3.5 bn in capital from leading Nordic and international investors. More information is available at www.immedica.com or www.medicalneed.com
This document is a press release, not a prospectus. This document does not constitute or form part of an offering or invitation to sell or a solicitation to purchase, offer or subscribe shares of the company. Moreover, no reliance should be placed upon this document for any investment decision or contract and it does not constitute a recommendation of any type with regard to the shares of the company.
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Or please visit our website at http://www.pharmamar.com