Martinsried/Munich, January 23, 2012. MediGene AG (Frankfurt, Prime Standard) has signed an exclusive license and supply agreement with EIP Eczacibasi Ilac Pazarlama A.S. for the supply and commercialization of Veregen® ointment in Turkey. MediGene is entitled to successive payments, due upon the achievement of set regulatory and sales milestones, and will receive double-digit royalties on sales of Veregen® in this territory. Any further financial details of the agreement were not disclosed. EIP Eczacibasi will be responsible for the regulatory approval procedure activities for Veregen® in Turkey.
MediGene has previously 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.
Veregen® is currently available in the United States, Germany, and Austria. In Spain, the drug was granted marketing approval and product launch is expected in 2012. Marketing authorization applications were recently submitted in 17 additional European countries through the mutual recognition procedure, with the German marketing approval for Veregen® serving as the basis.
Veregen®: Veregen® (previously Polyphenon E® ointment), a topical treatment of 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 now also recommended as a treatment option in the US Department of Health and Human Services Center for Disease Control and Prevention's the Sexually Transmitted Diseases Treatment Guidelines 2010 for the treatment of genital warts.
EIP Eczacibasi: EIP Eczacibasi Ilac Pazarlama A.S. is a subsidiary of the Eczacibasi group, an industrial concern with 10,100 employees in 39 corporations and total sales of € 2.1 billion in 2010. The healthcare division of the group is a leading manufacturer of intravenous solutions and hospital supplies. With approximately 30 marketed products, EIP Eczacibasi is a key player in the Turkish pharmaceutical market.
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. 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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MediGene AG is a publicly listed (Frankfurt: MDG, prime standard) biotechnology company headquartered in Martinsried/Munich, Germany. MediGene is the first German biotech company to have revenues from marketed products. It has various drug candidates in clinical development and possesses innovative platform technologies. MediGene focuses on clinical research and development of novel drugs against cancer and autoimmune diseases.
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Tel.: +49 - 89 - 85 65 - 33 01
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