First market launches are scheduled for 2013.
Martinsried/Munich, November 29, 2012. Medigene AG (Frankfurt, Prime Standard; XETRA: MDG) and the pharmaceutical company, Nordic Pharma, have entered into an exclusive agreement for the supply and marketing of Veregen® for the treatment of genital warts in the Czech Republic, Slovakia, Poland, Hungary, the Baltic Countries, Georgia and the Commonwealth of Independent States (CIS), which include Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Ukraine, and Uzbekistan. Medigene will benefit from milestone payments and double-digit royalties on sales of Veregen® in these countries, as well as certain payments related to the manufacture and supply of the finished product.
Nordic Pharma is planning to launch Veregen® in the Czech Republic, Slovakia, Poland and Hungary during 2013. Marketing authorization applications for the other countries are in preparation.
Dr. Frank Mathias, Chief Executive Officer of Medigene AG, commented: "We are delighted to expand the availability of Veregen® into additional major markets. Nordic Pharma has a good distribution network in Eastern Europe, Russia and the other CIS countries in place. We look forward to building a cooperative relationship with this experienced pharmaceutical marketing partner. After conclusion of this agreement, marketing partnerships for Veregen® now exist for all 17 countries included in the second wave of the European approval procedure, as well as for numerous other markets."
Veregen® is already being marketed in the USA (by Fougera), Germany, Austria and Switzerland (by Abbott), and Spain (by Bial). Marketing authorizations in additional countries are granted or expected within the next few months. 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 exploit the market potential of the product.
About Veregen®: Veregen® (previously Polyphenon E® ointment), a topical treatment for external genital or perianal warts, contains a concentrate of catechins with a complex defined composition extracted from green tea leaves. Sinecatechins 15% ointment (Veregen®) is recommended as an option for treating genital warts in the US Department of Health and Human Services Center for Disease Control and Prevention's Sexually Transmitted Diseases Treatment Guidelines 2010.
Nordic Pharma: The Nordic Group is a privately-owned, fast-growing, fully-integrated, pan-European Pharmaceutical Group with a strong emphasis on quality products and services that cater to the special needs of each client and patient. The Nordic Group originated in 1995 with the establishment of the first Nordic organisation in Scandinavia. In the years that followed, the Nordic Group gradually expanded its geographical implantation throughout Europe and significantly enlarged its range of activities. Today, the Nordic Group continues to capitalise on its existing platform of core competencies, products, services and technologies to develop the Company in two specialised segments of the Pharmaceutical market: Marketing & Sales of Specialty pharmaceuticals and Specialised Pharmaceutical Services which focus on Product Development, Manufacturing, Supply Logistics and Regulatory activities. For more information, please visit www.nordicpharmagroup.com.
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 was the first German biotech company to have revenues from marketed products, which are currently distributed by partner companies. The company has two drug candidates in clinical trials and is developing an innovative vaccine technology. 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® and Veregen® are registered trademarks of Medigene AG. These trademarks may be owned or licensed in select locations only.
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