Market launch in Spain still scheduled for the 2nd quarter of 2012
Martinsried/Munich, May 4, 2012. MediGene AG (MDG, Frankfurt, Prime Standard) announces that its drug Veregen® will now be marketed by BIAL Industrial Farmaceutica, S.A., with immediate effect. This announcement follows an agreement between Medigene, its previous partner Juste S.A.Q.F and the Portuguese pharmaceutical company BIAL. Market launch of Veregen® ointment in Spain remains scheduled to take place in the second quarter of 2012.
Dr. Frank Mathias, Chief Executive Officer of Medigene, comments: "This is a benefit for Veregen®, as our new partner BIAL has an extremely powerful marketing organization. We look forward to working with this highly competent partner who plays a leading role on the Iberian Peninsula."
Commenting about Veregen® launch António Portela, CEO of BIAL, said: "Veregen® is an important addition to our current gyneacology portfolio. We are very excited to strengthen our portfolio with such an innovative and unique product. Our team has high expectations for the launch of Veregen®."
Veregen® is currently available on the US, German, and Austrian markets. Market launch in Spain is in preparation. In Switzerland, the reimbursable price is currently being negotiated. In addition, marketing authorization applications for an additional 17 European countries were assessed positively by the regulatory authorities in March 2012. Medigene expects that the national marketing authorizations will be formally granted by the respective regulatory authorities within the next few months.
Medigene has entered into several marketing partnerships for Veregen®, including Fougera (formerly Nycomed) for the United States; Abbott for Germany, Austria, and Switzerland; Laboratoires Expanscience for France; and a number of other partners across Europe, America, and Asia. Medigene is planning to continue this global licensing strategy.
About Veregen®: Veregen® (previously Polyphenon E® ointment), a topical treatment for external genital warts, contains a concentrate of catechins with a complex defined composition extracted from green tea leaves. Medigene acquired the basic rights to the active ingredient in Veregen® from Epitome Pharmaceuticals, Inc. in 1999, and was solely responsible for the drug's successful preclinical and clinical development, as well as the approval process. Sinecatechins 15% ointment (Veregen®) is recommended as a possible option for treating genital warts in the US Department of Health and Human Services Center for Disease Control
About BIAL: BIAL, founded in 1924, is a global pharmaceutical company with products marketed in 50 countries on 4 continents. The privately owned company ranks number 5 on the Portuguese pharmaceutical market and has a strong presence on the Iberian Peninsula, in Latin America as well as in French and Portuguese speaking countries in Africa. BIAL is strongly committed to therapeutic innovation investing more than 20% of its turnover in research and development every year. Key research areas for BIAL are the central nervous system, the cardiovascular system and allergen immunotherapy. BIAL currently has several other innovative programs under development, which the company expects to bring to the market within the next years, thereby strengthening its position throughout Europe. For further details, please visit www.bial.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® and Veregen® are registered trademarks of MediGene AG. These trademarks may be owned or licensed in select locations only.
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MediGene AG is a publicly listed (Frankfurt: MDG, prime standard) biotechnology company headquartered in Martinsried/Munich, Germany. Medigene focuses on clinical research and development of novel drugs against cancer and autoimmune diseases. Medigene is the first German biotech company to have revenues from marketed products, which are distributed by partner companies. It has two drug candidates in clinical trials and is developing an innovative vaccine technology.
Julia Hofmann & Kerstin Langlotz
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