[Photo provided by CrystalGenomics Inc.]
South Korea’s biopharmaceutical company CrystalGenomics Inc. has signed a 198.9 billion won ($178.5 million) supply deal with Brazilian pharmaceutical company Apsen Farmaceutica S.A. for its anti-inflammatory non-steroidal drug Acelex used for the treatment of patients with osteoarthritis.
CrystalGenomics said in a regulatory filing on Tuesday that the conditional deal with Apsen Farmaceutica will allow the Brazilian healthcare company to have exclusive rights to develop and distribute Acelex 2 mg capsules across Brazil. The agreement will go into effect after regulatory approval is granted by Brazil’s health authorities. Apsen Farmaceutica will be responsible to file for marketing approval of the drug within a year.
Acelex - developed by CrystalGenomics - is a non-steroidal anti-inflammatory drug used for the treatment of osteoarthritis that was approval by the Korean Ministry of Food and Drug Safety as the country’s 22nd novel drug in 2015.
Under the latest agreement, CrystalGenomics will supply Acelex products to Apsen Farmaceutica for 10 years after marketing approval in Brazil. Apsen Farmaceutica will also be in charge of marketing and sales of the drug locally.
CrystalGenomics said that it will mark the first case of Acelex exports to South America, which demonstrates the drug’s outstanding efficacy and safety profile. The company aims to provide Acelex to other regions in Latin America based on the partnership with Apsen Farmaceutica.
CrystalGenomics founded in 2000 has been engaged in the development of next-generation treatment for arthritis and new concept antibiotics. The biopharmaceutical company is seeking to export Acelex to China, Russia and Southeast Asian countries.
As of 2:35 p.m., shares of CrystalGenomics were up 3.01 percent at 20,550 won on the Kosdaq market.
By Park Joon-hyung and Lee Eun-joo
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