BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Bone Medical Ltd to Licence Oral PTH Osteoporosis Product to Hyundai for Korean Market


6/19/2008 11:59:33 AM

19 June 2008: Bone Medical Limited (ASX:BNE) has reached initial agreement with Hyundai Pharm. Co. Ltd. over the terms for the grant of a licence to sell Bone’s CaPTHymone™ oral parathyroid hormone osteoporosis product in South Korea.

Bone Medical will qualify for an up-front payment, milestone payments related to product development, approval and launch events and payments for supply of bulk product. Bone will also receive royalties on annual sales of CaPTHymone™ by Hyundai Pharm. in South Korea.

Bone Medical’s Managing Director Troels Jordansen said, "This is Bone’s first heads of agreement for CaPTHymone™. It is the kick-off for what we expect will be multiple licence agreements for Bone’s technology that should enable rapid product sales when approvals are finalised.”

“Our recent clinical development progress has shown CaPTHymone™’s effective PTH oral delivery and we welcome the initiative demonstrated by our new partner Hyundai Pharm. in negotiating rights to the product for its home market. Korean annual sales of osteoporosis products currently exceed US$100 million.”

The transaction is subject to completion of due diligence and a formal licence agreement. Detailed terms have not been released by the parties.

About Bone Medical

Bone Medical Limited is an international biopharmaceutical development company positioned to exploit the growing market in the treatment of bone disease particularly in osteoporosis and arthritis. Bone has a portfolio of biopharmaceutical development projects for the treatment of bone disease including:

Osteoporosis
• Capsitonin™ oral calcitonin
• CaPTHymone™ oral parathyroid hormone
• bone cell regulators BN005 & BN008

Arthritis
• TNF regulators BN006
• joint protection & collagen tolerance BN007

About Hyundai Pharm.

Hyundai Pharm. Co., Ltd. located in Seoul, Korea, stands among top 20 pharmaceutical companies in Korea. Hyundai has history over 40 years and nationwide sales network as a complete pharmaceutical company having pharmaceutical, medical device and health food business in the territory. Hyundai has long and reputable experience in the field of ethical market, and now successfully marketing many products licensed from reputable multi-national companies like AstraZeneca (UK), Nycomed (Denmark) and Mitsubishi Tanabe (Japan) to name a few for many years. Recently, Hyundai established new business relationships with Bayer (Germany), Biogen Idec (Switzerland) and Uriach (Spain). Hyundai Pharm. has the active, aggressive, dedicated and honorable sales force.

Enquiries:

Leif Helth Jensen
Chairman
Mobile: +45 4052 0787
Australian Office: +61 8 9355 5123

Rudi Michelson
Monsoon Communications
Office: +61 3 9620 3333

Troels Jordansen
Managing Director
Mobile: +44 79 1713 0019

Or visit: www.bonemedical.com



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES