Singapore-based Invida Pharmaceutical Holdings PTE Ltd will market Sancuso in Australia, Indonesia, the Philippines, Thailand and Vietnam, while Dubai-based NewBridge Pharmaceuticals FZ LLC will market Sancuso in Turkey. (ProStrakan has already partnered with NewBridge for the marketing of Sancuso in the Middle East and Africa.)
Under the terms of the agreements, ProStrakan will receive undisclosed upfront and milestone payments, subject to the achievement of certain approvals and sales targets. Invida and NewBridge will be required to purchase Sancuso directly from ProStrakan at a pre-agreed price.
Sancuso is a transdermal patch that delivers granisetron, an established 5HT3 receptor antagonist, steadily into the bloodstream for up to seven days. Sancuso has been shown to be as efficacious as oral granisetron in preventing the side effects of nausea and vomiting in patients undergoing chemotherapy. Sancuso has the advantage of offering this protection through a single transdermal patch application, eradicating the need for repeated daily injections or having to swallow multiple pills on a repeated daily basis.
In September 2008, ProStrakan received approval from the US Food and Drug Administration (FDA) for Sancuso and the product was launched in the US in November 2008.
Commenting on today’s announcement, Dr Wilson Totten, ProStrakan’s Chief Executive, said:
“With US approval for Sancuso achieved, this product has caught the attention of pharmaceutical companies globally, validating our strategy of outlicensing it in territories that are non-core for ProStrakan. We have now constructed a significant potential ongoing revenue stream from Sancuso.”
ProStrakan
ProStrakan Group plc is a rapidly growing specialty pharmaceutical company engaged in the development and commercialisation of prescription medicines for the treatment of unmet therapeutic needs in major markets.
ProStrakan's head office is situated in Galashiels in Scotland. The company’s development capabilities are centred on Galashiels and Bedminster, New Jersey, USA. Sales and marketing of ProStrakan's portfolio of products are handled by commercial subsidiaries in the UK, US, France, Germany, Spain and other EU countries. www.prostrakan.com
Invida Pharmaceutical Holdings
Invida Pharmaceutical Holdings Pte. Ltd. is the holding company of Pharmalink, the leading pharmaceutical and healthcare commercialisation provider in Asia Pacific; and Inovail, an independently-managed specialty pharmaceutical company focused on market-driven innovation in the areas of dermatology, complementary oncology and female healthcare. Headquartered in Singapore, Invida's focus is in the Asia Pacific region, where it has offices in 13 countries. Invida's shareholders include Temasek Holdings, Quintiles Transnational and the Zuellig Group. More information about Invida can be found at www.invida.com.
NewBridge Pharmaceuticals
NewBridge Pharmaceuticals (www.nbpharma.com) is a specialty pharmaceutical, biologics, and medical device company serving the Middle East, Africa, Turkey, and Caspian regions to address the unmet needs of diseases with high regional prevalence such as diabetes, obesity, oncology, cardiovascular diseases and other metabolic disorders. NewBridge in-licenses and commercializes FDA and EMEA approved therapeutics and devices.
Headquartered in UAE with Business Development in the US, NewBridge was founded in 2007 by Burrill & Company, a San Francisco-based Life Science Venture Capital, Private Equity, Merchant Banking and Media firm. NewBridge Pharmaceuticals is uniquely positioned as the partner of choice for pharmaceutical, biotechnology and device companies seeking to capture value from their products in these high growth emerging markets.
