The products under development will be sold across all Latin America, targeting Peru, Mexico, Paraguay, Bolivia and Ecuador in a first phase and gradually entering Chile, Colombia, Panama, Costa Rica, Argentina and Brazil over the next few years.
WORCESTER, Mass.--(BUSINESS WIRE)-- Or-Genix Therapeutics, Inc., a development-stage specialty woman’s health and dermatology company, announced today that it has signed an agreement with Fission Labs LATAM, an innovative dermatology company, for the transfer and development of a breakthrough, topically-acting, patent-protected molecule for formulation of products that will treat a variety of skin and hair concerns such as blemishes, oily skin and alopecia.
The products under development will be sold across all Latin America, targeting Peru, Mexico, Paraguay, Bolivia and Ecuador in a first phase and gradually entering Chile, Colombia, Panama, Costa Rica, Argentina and Brazil over the next few years. This agreement consolidates Fission’s ambition to become the market leader in dermatology in Latin America, introducing a disruptive technology that will change the way we understand safe and effective skin care.
The financial aspects of the deal were not disclosed. The agreement proposes the formation of a Joint Committee comprising key personnel from each company, to aid in the streamlined development and marketing of the product.
Yael Schwartz, PhD, President and Chief Executive Officer of Or-Genix announced that, “We are very excited to partner on this project with Fission Labs and their team of highly accomplished veterans of the dermatology industry. This agreement demonstrates the global appeal of Or-Genix’s patented portfolio of new chemical entities and their role in women’s health and dermatology innovation. We look forward to working with the talented Fission team to bring differentiated dermatology products to LATAM.”
Cristina Griffin, MBA, Chief Business Officer of Or-Genix, stated, “I firmly believe we could not have found a better partner for Latin America. Fission Labs combines scientific and medical excellence with a dynamic and innovative commercial strategy and is going to be a key player in Latin American dermatology.”
According to Javier Benavente, MBA, CEO of Fission, “This partnership marks a before and after for the organization. Or-Genix has a sophisticated team and IP portfolio. This partnership will position Fission Labs as a world class dermatology player.”
Arancha Delgado, MBA, PhD, Director of Innovation and Medical Marketing of Fission Labs added that, “We are so grateful for the vote of confidence given to us by Or-Genix. Developing and formulating with Or-Genix paradigm-shifting ingredients will place Fission Labs in a position to offer real and meaningful innovation to the Latin American dermatology community. This is a game changer for us.”
About Or-Genix Therapeutics
Or-Genix is headquartered in Worcester, Massachusetts, and is a unique early stage pharmaceutical company focused on developing patent protected prescription and non-prescription dermatology products. The company is committed to developing first-in-class innovative and meaningful treatments for a variety of women’s health and dermatologic disorders.
About Fission Lab LATAM
Fission Labs LATAM, first established in Peru and now owned by a Latin American group, is currently headquartered in Madrid, Spain. It is the only pharmaceutical company with an exclusive focus in dermatology across Latin America. A spirit of fun, innovation and enthusiasm defines everything Fission does, from R&D to calling on dermatologists. The company is dedicated to offering real solutions to dermatologists and their patients.
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Source: Gore Range Capital
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