CrystalGenomics Signs Export Agreement with Apsen Farmacêutica for Acelex in Brazil
Pangyo, Korea, South, September 05, 2018 --(PR.com)-- CrystalGenomics, Inc. announced today that they have signed an Export Agreement with Apsen Farmacêutica for the commercialization of Acelex® (polmacoxib) in Brazil.
Under the terms of the agreement, Apsen will secure exclusive rights for the Brazilian market to sell and market Acelex 2mg, a novel COX-2 inhibitor developed by CrystalGenomics for the treatment of osteoarthritis. Apsen will be responsible for the product registration, sales & marketing, and distribution of Acelex for the Brazilian market. CrystalGenomics will exclusively supply Apsen with the finished drug product at an agreed upon transfer price. CrystalGenomics is also entitled to receive milestone payments based on the sales of Acelex in Brazil.
Brazil has a large and fast-growing market for pharmaceuticals due to a rapidly increasing elderly population that is projected to triple by the year, 2050. Furthermore, osteoarthritis is common among the aging and obese population and the osteoarthritis patient population is expected to grow at a significant pace.
"We are thrilled to work with the Apsen team. They are an established team and are uniquely qualified for the marketing of Acelex in Brazil,” said Joong Myung Cho, Ph.D., Chairman and Chief Executive Officer of CrystalGenomics. “They have a convincing track record of in-licensed drug products and successful commercialization in Brazil.”
About Acelex® (polmacoxib)
Acelex is a novel once-a-day osteoarthritis drug approved and available in South Korea. The commercialization rights of Acelex for Turkey and the MENA region was licensed to TR-Pharm and is pending approval in several key markets such as Turkey, Saudi Arabia, and the UAE, and additional regulatory filings are expected to be made in other countries over the course of the next few years.
About CrystalGenomics
CrystalGenomics, is a commercial stage biopharmaceutical company focused in structure-based drug discovery, development, and commercialization of novel therapeutics in unmet medical need areas of inflammation, oncology, and infectious disease. The Company has recently added manufacturing and commercialization capabilities through multiple acquisitions. For more information, please visit: www.crystalgenomics.com. CrystalGenomics is listed on KOSDAQ (083790).
About Apsen
Apsen is engaged in the research and development, manufacture, and sale of innovative pharmaceutical products in Brazil. It offers products in the areas of urology, rheumatology, ENT, neurology, geriatrics, psychiatry, gynecology, gastroenterology, pediatrics, orthopedics and general medicine. For more information, visit www.apsen.com.br.
Under the terms of the agreement, Apsen will secure exclusive rights for the Brazilian market to sell and market Acelex 2mg, a novel COX-2 inhibitor developed by CrystalGenomics for the treatment of osteoarthritis. Apsen will be responsible for the product registration, sales & marketing, and distribution of Acelex for the Brazilian market. CrystalGenomics will exclusively supply Apsen with the finished drug product at an agreed upon transfer price. CrystalGenomics is also entitled to receive milestone payments based on the sales of Acelex in Brazil.
Brazil has a large and fast-growing market for pharmaceuticals due to a rapidly increasing elderly population that is projected to triple by the year, 2050. Furthermore, osteoarthritis is common among the aging and obese population and the osteoarthritis patient population is expected to grow at a significant pace.
"We are thrilled to work with the Apsen team. They are an established team and are uniquely qualified for the marketing of Acelex in Brazil,” said Joong Myung Cho, Ph.D., Chairman and Chief Executive Officer of CrystalGenomics. “They have a convincing track record of in-licensed drug products and successful commercialization in Brazil.”
About Acelex® (polmacoxib)
Acelex is a novel once-a-day osteoarthritis drug approved and available in South Korea. The commercialization rights of Acelex for Turkey and the MENA region was licensed to TR-Pharm and is pending approval in several key markets such as Turkey, Saudi Arabia, and the UAE, and additional regulatory filings are expected to be made in other countries over the course of the next few years.
About CrystalGenomics
CrystalGenomics, is a commercial stage biopharmaceutical company focused in structure-based drug discovery, development, and commercialization of novel therapeutics in unmet medical need areas of inflammation, oncology, and infectious disease. The Company has recently added manufacturing and commercialization capabilities through multiple acquisitions. For more information, please visit: www.crystalgenomics.com. CrystalGenomics is listed on KOSDAQ (083790).
About Apsen
Apsen is engaged in the research and development, manufacture, and sale of innovative pharmaceutical products in Brazil. It offers products in the areas of urology, rheumatology, ENT, neurology, geriatrics, psychiatry, gynecology, gastroenterology, pediatrics, orthopedics and general medicine. For more information, visit www.apsen.com.br.
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CrystalGenomics, Inc.
Steven Kim
+82-31-628-2720
www.cgxinc.com
Steven Kim
+82-31-628-2720
www.cgxinc.com
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