PharmaMar and Boryung Pharm Sign a Licensing Agreement for Zepsyre (lurbinectedin) in Korea
MADRID, November 7, 2017 /PRNewswire/ --
PharmaMar (MCE: PHM) has announced today a licensing agreement with Boryung Pharma to commercialize the marine-derived anticancer drug Zepsyre(R) (lurbinectedin), if approved, in South Korea. Under the terms of the agreement, PharmaMar receives a non-disclosed upfront payment and will be eligible for additional remunerations upon achieving regulatory and sales milestones. PharmaMar will retain exclusive production rights and will sell the product to Boryung Pharm for commercial use, if approved.
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Zepsyre(R) is currently in late-stage clinical development for platinum-resistant ovarian cancer and for small-cell lung cancer. After results obtained in clinical trials about BRCA 2-associated metastatic breast cancer and endometrial cancer, PharmaMar also plans to initiate a pivotal phase III study in each of those indications.
According to Luis Mora, Managing Director of PharmaMar's Oncology Business Unit, "This is our second strategic agreement with Boryung Pharm and we are very pleased with our business partner. This new agreement will allow Zepsyre(R) to reach the Korean market, if approved, in the hands of one of the leading companies in the field of oncology in this country."
Boryung Pharm Chief Executive Officer, Mr. Tae-Hong Choi said, "We are very pleased to have our second licensing deal with PharmarMar. This licensing deal will strengthen our existing strong relationship with PharmaMar and demonstrate our high confidence in PharmaMar`s development pipeline." He added: "Zepsyre(R) may provide new therapies in various types of solid tumors, including a platinum-resistant ovarian cancer, BRCA 2-associated metastatic breast cancer and small-cell lung cancer. We look forward to making these new therapies available in South Korea, if approved."
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