Kahalalide F is a novel depsipeptide developed by PharmaMar
With this agreement, PharmaMar grants a worldwide license to Medimetriks on Kahalalide F for uses outside of Oncology and Neurology
PharmaMar shall receive development milestone payments and royalties on worldwide sales of Kahalalide F products. In addition, PharmaMar shall receive part of any additional income that Medimetriks might receive from sublicensees
All development will be financed by Medimetriks
Madrid, June 10, 2009 -- PharmaMar SA (Grupo Zeltia, ZEL.MC) and Medimetriks Pharmaceuticals, Inc. (Fairfield, NJ) today announced a license agreement covering Kahalalide F and two of its analogs for uses outside of Oncology and Neurology.
Kahalalide F is a novel depsipeptide developed by PharmaMar’s internal research program. It was originally extracted from the Hawaiian sea slug Elysia rufescens but is now totally synthetic.
With this agreement, Medimetriks receives a worldwide license to Kahalalide F and two of its analogs for uses outside of Oncology and Neurology, with the right to sublicense. PharmaMar will initially provide the Kahalalide F drug substance to Medimetriks and retain all rights to Kahalalide F and the two analogs for the treatment of cancer and central nervous systems disorders.
All subsequent preclinical and clinical development as well as commercialization will be financed by Medimetriks, its sublicensee(s), or both these parties. PharmaMar shall receive development milestone payments and royalties on worldwide sales of Kahalalide F and its two analogs as well as part of any additional income, such as upfront or milestone payments, that Medimetriks may receive from its sublicensees.
“We are very pleased to enter into this license agreement with Medimetriks Pharmaceuticals, which is led by an experienced team whose impressive track record in dermatology is evident from their work at Bradley Pharmaceuticals,” said Luis Mora, General Manager of PharmaMar. “We believe that the Kahalalide F project is now in very capable hands and we look forward to seeing the compound being developed for a broad range of dermatological indications”.
Bradley Glassman, Chairman and CEO of Medimetriks Pharmaceuticals stated, “We are very pleased to work with PharmaMar, a leading biopharmaceutical company that has done extraordinary work in developing and commercializing marine-derived compounds for medical use. This agreement underscores Medimetriks’ commitment to Dermatology, its commitment to build a strong portfolio of innovative therapies that fill unmet therapeutic needs, and its commitment to develop Kahalalide F for the treatment of skin diseases, with an initial focus on psoriasis.”
About Kahalalide F
Kahalalide F is a synthetic depsipeptide resulting from PharmaMar’s internal research program and was originally extracted from the Hawaiian nudibranch Elysia rufescens. PharmaMar previously outlicensed different analogs of Kahalalide F to Marinomed Biotechnologie GmbH (Vienna, Austria) for uses outside of Oncology and Neurology.
PharmaMar
PharmaMar is the world leader biopharmaceutical company of the Zeltia Group, committed to advancing the treatment of cancer through the discovery and development of new marine-derived medicines. PharmaMar’s first product, Yondelis®, received marketing authorisation from the European Commission for the treatment of advanced or metastatic soft tissue sarcoma in September 2007. In 2008 a registration dossier was submitted to the European Medicines Agency (EMEA) and Food and Drug Administration (FDA, USA) for Yondelis® when administered in combination with DOXIL®/Caelyx™ (pegylated liposomal doxorubicin) for the treatment of women with relapsed ovarian cancer. It is also in phase II clinical trials for prostate, breast, and lung cancers. Three other PharmaMar compounds, Aplidin®, Irvalec®, and Zalypsis® are in various stages of clinical development. Two additional compounds have reached late-stage preclinical trials
Medimetriks
Medimetriks Pharmaceuticals develops, licenses and commercializes prescription skincare products for the Dermatology and Podiatry marketplaces. The Company’s mission is to enhance patient quality-of-life by providing innovative therapies that advance patient care.
Important note
PharmaMar, based in Madrid, Spain, is a subsidiary of Grupo Zeltia (Spanish Stock Exchange, ZEL) that has been quoted on the Spanish Stock Exchange since 1963. Grupo Zeltia is currently part of the Ibex Nuevo Mercado (New Market). This document is a press release, not a brochure. This document does not constitute nor is part of any offer or invitation to sell or issue any application of purchase, offer, or shares subscription of the Company. Likewise, neither this document nor itsdistribution is part or can be of base for any contract or investment decision and does not constitute any kind of recommendation in relation with the shares of the Company.
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