Martinsried/Munich, September 7, 2011. The biotech company MediGene AG (Frankfurt, Prime Standard) has signed an exclusive license and supply agreement with Pharmanova d.o.o. for the supply and commercialization of Veregen® ointment in Serbia, Bosnia and Herzegovina, Montenegro, Macedonia, Croatia, Slovenia, and Albania, for the treatment of genital warts. 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®. Further financial details of the agreement were not disclosed. Pharmanova will be responsible for the drug approval procedure in the above mentioned countries (except Slovenia).
MediGene has already entered into several marketing partnerships for Veregen®, e.g. with Nycomed, Inc. for the USA, with Abbott for Germany, Austria, and Switzerland, with Laboratoires Expanscience for France, with Meditrina Pharmaceuticals for Greece, Cyprus, Romania and Bulgaria, and with a number of other partners across Europe, America, and Asia. MediGene is planning to continue this global licensing strategy.
Veregen® is currently available on the US, German, and Austrian markets. MediGene plans to file a second wave of marketing applications within the European mutual recognition procedure,including Slovenia. Germany serves as the reference state in this process.
Veregen®: Veregen® (previously Polyphenon E® ointment) for the 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 the Canadian company Epitome Pharmaceuticals, Inc. in 1999, and was solely responsible for the drug's successful preclinical and clinical development, as well as the approval process. Patent protection has also been further upgraded by a number of proprietary inventions. 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.
Pharmanova: Pharmanova is a privately owned Serbian pharmaceutical company, with annual sales of over three million packages. Pharmanova is one of the biggest producers of herbal medicines and reputable drugs and dietary products in Serbia, and employs over 170 people. Pharmanova is seeking to leverage its leading position in Serbia, and to expand into new markets, with the addition of Veregen® ointment to its product portfolio.
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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