PharmaMar signs an agreement with Immedica Pharma to market lurbinectedin in Eastern Europe, the UK, Ireland, the Nordic countries and some Middle Eastern countries
Madrid, April 29th, 2020 – PharmaMar (MSE:PHM) has announced today that it has signed an agreement with Immedica Pharma AB (Immedica) for the exclusive distribution and marketing, if approved, of the anti-tumor drug lurbinectedin for territories that include the UK, Ireland, the Nordic countries, some countries within Eastern Europe, the Middle East and North Africa.
Under the terms of the agreement, PharmaMar will receive an upfront payment of €2 million and will also be eligible for additional regulatory milestone payments. In the above territories, PharmaMar will receive 50% of future sales in Europe and 40% of future sales in the Middle East. PharmaMar will retain exclusive production rights for the product, which will be supplied to Immedica for commercial and clinical use. In addition, PharmaMar will retain the rights to distribute and market the product in the rest of Europe.
Luis Mora, General Manager of PharmaMar’s Oncology business unit, said: “This is our second strategic alliance with Immedica, this time for the marketing of lurbinectedin in the above territories for the treatment of small cell lung cancer and other possible indications. This agreement is in line with our commitment to bring innovative therapies to patients worldwide.”
Anders Edvell, CEO of Immedica, said: ” We are truly happy to further expand our highly successful partnership with PharmaMar, and, pending regulatory approval to be able to provide lurbinectedin to patients with significant medical needs.”
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: 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 Immedica AB
Immedica is a fast-growing private niche pharma group with headquarter in Stockholm, Sweden and commercial coverage across Europe and the Middle East.
Immedica provides significant know-how and experience from commercialization of niche/specialty care products across Europe and the Middle East, and the company’s management team has an outstanding track record of operating niche pharma products internationally. Immedica has capabilities to provide optimal access of specialty care medicines to patients with significant medical needs, including key areas such as regulatory affairs, pharmacovigilance, medical affairs, pricing & reimbursement, quality and product distribution.
Immedica’s main owner is Impilo AB, a private Nordic investment company established in 2017, with more than SEK 3.6 billion in committed capital from leading Nordic and international investors.
More information is available at www.immedica.com
Lurbinectedin (PM1183) is a synthetic compound currently under clinical investigation. It is a selective inhibitor of the oncogenic transcription programs on which many tumors are particularly dependent. Together with its effect on cancer cells, lurbinectedin inhibits oncogenic transcription in tumor-associated macrophages, downregulating the production of cytokines that are essential for the growth of the tumor. Transcriptional addiction is an acknowledged target in those diseases, many of them lacking other actionable targets.
Anders Edvell – Chief Executive Officer. email@example.com Phone: +46 705446126
Alfonso Ortín – Communications Director firstname.lastname@example.org Mobile: +34 609493127
Miguel Martínez-Cava – Communication Manager email@example.com Mobile: +34 606597464 Phone: +34 918466000
PharmaMar Capital Markets & Investor Relations:
José Luis Moreno– Capital Markets & Investor Relations Director
Phone: +34 914444500