Medigene AG / Medigene and Kora Healthcare sign agreement for the commercialisation of Veregen® in United Kingdom and Ireland . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
Martinsried/Munich, 8 April 2014. Medigene AG (Frankfurt, Prime Standard) and the pharmaceutical company Kora Healthcare concluded an exclusive agreement for the supply and commercialisation of Veregen® (http://www.medigene.de/veregen) for the treatment of genital warts in United Kingdom and Ireland. Following marketing authorisation, Kora Healthcare will promote and distribute the drug for the treatment of genital warts. Medigene will receive a one-time upfront payment, revenues from milestone payments and from the supply of the finished product, as well as royalties on the future sales of Veregen® in the two countries.
Dr. Frank Mathias, Chief Executive Officer of Medigene AG, comments: "We are glad that we will now be able to open up the two important pharma markets, the United Kingdom and Ireland, with this marketing partnership. Kora Healthcare is a renowned pharmaceutical company in the field of sexual health, and will approach all relevant target groups with the drug. We have now established sales networks for Veregen® in all European countries."
Margaret Larkin, Chief Executive Officer of Kora Healthcare, adds: "This novel ointment for the topical treatment of genital warts complements our product portfolio in Sexual Health and strengthens our competitive position. We look forward to having an innovative product like Veregen® to offer to our customers for the treatment of genital warts."
Veregen® is currently available in the USA, Germany, Austria, Switzerland, Spain, Serbia, the Netherlands, Taiwan, Norway, Sweden, Czech Republic and Slovakia. Marketing authorisations in numerous additional countries have been granted. Medigene has entered into several marketing partnerships for Veregen® across Europe, Asia, and America, and is planning to continue this global licensing strategy to further tap the drug's market potential. Submission of the marketing authorisation application for Veregen® in United Kingdom and Ireland as well as several remaining European countries participating in the mutual recognition procedure is planned for 2014.
About Veregen®: Veregen®, a topical treatment for external genital or perianal warts, contains a concentrate of catechins with a complex defined composition extracted from green tea leaves. In its current treatment guidelines for sexually transmitted diseases, the US Center for Disease Control and Prevention recommends Sinecatechins 15% ointment (Veregen®) as a possible option for treating genital warts. In addition, Sinecatechins 10% & 15% ointment (Veregen®) has been included in the current European guideline on the treatment of genital warts, the 2012 European Guideline for the Management of Anogenital Warts
About Kora Healthcare: Kora Healthcare, a subsidiary of Immdal Limited, is a privately owned healthcare and pharmaceutical company headquartered in the Republic of Ireland. It is a rapidly growing company focused on the development and commercialisation of a portfolio of products and services within the therapeutic areas of Sexual Health and Clinical Nutrition. Strategically committed to on-going growth and development, Kora Healthcare is actively engaged in licensing, partnering, developing and marketing of specialty prescription pharmaceuticals and consumer healthcare products. For more information, please visit www.korahealthcare.com.
Medigene AG is a publicly listed (Frankfurt: MDG1, prime standard) biotechnology company headquartered in Martinsried near Munich, Germany. Medigene concentrates on the development of personalized T cell immunotherapies with focus on haematological malignancies. Medigene is the first German biotech company to have revenues from a marketed product, Veregen®, which is distributed by commercial partners companies. Medigene has various drug candidates in clinical development and it is developing highly innovative treatment platforms. Medigene's wholly-owned subsidiary, Trianta, is developing next generation antigen-tailored dendritic cell (DC) vaccines, T cell receptor (TCR)-based adoptive cell therapy and T cell-targeted antibodies (TABs). For more information, please visit www.medigene.com.
This press release contains forward-looking statements representing the opinion of Medigene as of the date of this release. The actual results achieved by Medigene may differ significantly from the forward-looking statements made herein. Medigene is not bound to update any of these forward-looking statements. Medigene® EndoTAG® and Veregen®are registered trademarks of Medigene AG. Polyphenon E® is a trademark of Mitsui Norin Co., Ltd. These trademarks may be owned or licensed in select locations only.
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Source: Medigene AG via Globenewswire
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Medigene AG
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