PharmaMar will receive an upfront payment and is eligible for additional remunerations, including regulatory milestone payments.
Madrid, July 27th, 2020. – PharmaMar (MSE:PHM) has announced today a licensing agreement with ADIUM Pharma S.A. to commercialize the marine-derived anticancer drug Yondelis® (trabectedin) in Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Curacao, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Trinidad and Tobago, Uruguay and Venezuela.
Under the terms of the agreement, PharmaMar will receive a non-disclosed upfront payment and will be eligible for additional remunerations, including regulatory milestone payments. PharmaMar will retain exclusive production rights of the product and will sell the product to ADIUM for its clinical and commercial use.
This new agreement follows PharmaMar’s announcement on August 26th, 2019, regarding the agreement entered into with Janssen Products LP (Janssen), by which PharmaMar recovered the commercialization rights of the product in more than 40 countries, formerly licensed to Janssen, where trabectedin has already been approved.
Trabectedin is currently provided by Janssen to patients in most of Latin American countries, for the treatment of soft tissue sarcoma and relapsed ovarian cancer. Through this new alliance, ADIUM will also pursue additional regulatory approvals, as well as public price approval where not yet conceded. Former product licensee Janssen will continue to commercialize the product in this territory, until its marketing authorizations are formally transferred to ADIUM.
According to Luis Mora, Managing Director of PharmaMar’s Oncology Business Unit, “We are pleased to have partnered Yondelis® with ADIUM for the Latin American market with more than 20 countries. We rely on ADIUM’s capabilities and infrastructure to maximize access to trabectedin to all patients with sarcoma or ovarian cancer”.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
Headquartered in Madrid, PharmaMar is a biopharmaceutical company, focused on oncology and committed to research and development which takes its inspiration from the sea to discover molecules with antitumor activity. It is a company that seeks innovative products to provide healthcare professionals with new tools to treat cancer. Its commitment to patients and to research has made it one of the world leaders in the discovery of antitumor drugs of marine origin.
PharmaMar has a pipeline of drug candidates and a robust R&D oncology program. It develops and commercializes Yondelis® in Europe and has other clinical-stage programs under development for several types of solid cancers: ZepzelcaTM (lurbinectedin, PM1183), PM184 and PM14. With subsidiaries in Germany, Italy, France, Switzerland, Belgium, Austria and the United States. PharmaMar wholly owns other companies: GENOMICA, a molecular diagnostics company; Sylentis, dedicated to researching therapeutic applications of gene silencing (RNAi). To learn more about PharmaMar, please visit us at www.pharmamar.com
About ADIUM PHARMA S.A.
Adium is a private pharmaceutical company based in Montevideo, Uruguay. Adium distributes its products in 18 Latin American & Caribbean countries including Brazil, Mexico and Colombia. Adium has been distributing products from leading international companies, in the field of Oncology, Urology, Hematology and Rare Diseases, for more than 20 years. Adium provides its partners a full set of local capabilities including commercial, market access, regulatory and pharmacovigilance.
Yondelis® (trabectedin) is a novel, synthetically produced antitumor agent originally isolated from Ecteinascidia turbinata, a type of sea squirt. Yondelis® exerts its anticancer effects primarily by inhibiting active transcription, a type of gene expression on which proliferating cancer cells are particularly dependent.
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