20 March 2013 | News | By BioSpectrum Bureau
Medigene, SynCore expand deal for Veregen sale in Asia, Australia and New Zealand
As part of the agreement, Medigene will receive payment when specific milestones are reached
Singapore: Germany-headquartered Medigene and SynCore Biotechnology, a member of Sinphar Pharmaceutical Group, have expanded the existing exclusive licensing and supply contract into new regions for the supply and marketing of the Veregen ointment for the treatment of genital warts.
SynCore Biotechnology, a joint venture between Sinphar Pharmaceutical and the National Health Research Institute Taiwan, focuses on the development and pipeline management of new drugs. Currently, SynCore has five products under development in different stages of clinical trial.
Along with existing agreements in Taiwan, SynCore will now be responsible for the approval process and commercialization of the drug for the treatment of genital warts throughout Asia, excluding China and Korea, in Australia and New Zealand. In addition to income from the production and supply of the ointment and the active ingredient, Medigene will receive payment when specific milestones are reached. Medigene already has partnerships in Asia for the distribution of Veregen in China (GC Rise Pharmaceutials) and South Korea (Kolon Pharmaceuticals).
Dr Frank Mathias, CEO of Medigene AG, said: "We are delighted that we have intensified our partnership with SynCore further. Alongside the co-development and commercialization partnership for our drug candidate EndoTAG-1 which was entered into last year, we have now also been able to significantly expand our collaboration for the marketing of Veregen. Together with SynCore and our other Asian distribution partners, we will be able to tap into the markets with Veregen in Asia and the key region of Oceania as quickly as possible."
Veregen is already marketed in the USA (by Fougera), in Germany, Austria, Switzerland (by Abbott) and Spain (by Bial). Market authorization has been granted for other countries or is expected within the next few months. A number of partnerships are in place in Europe, Asia and America for the marketing of Veregen. Medigene intends to conclude further marketing partnerships in additional countries to fully exploit the market potential of Veregen.