Martinsried/Munich, April 19, 2011. The biotech company MediGene AG (Frankfurt, Prime Standard) has signed an exclusive license and supply agreement with the Canadian company Triton Pharma Inc. for the supply and commercialization of Veregen® ointment for the treatment of genital warts in Canada. Triton will be responsible for the drug approval procedure in Canada. MediGene is entitled to successive payments totaling up to 2.1 million euros, due upon the achievement of set milestones, and will obtain royalties on the sales revenue generated with Veregen® in the form of a double-digit percentage share.
"We are happy that we have found the ideal partner for the commercialization of Veregen® ointment in Canada. With this agreement and our existing partnerships with Nycomed and Pierre Fabre, we are now able to serve the entire North and Central American market." commented Dr. Frank Mathias, Chief Executive Officer of MediGene AG.
Sybil Dahan, President of Triton Pharma Inc., added: "Triton Pharma is proud to include MediGene AG on the selective list of European partners fuelling our product pipeline in Canada. Veregen® is a perfect complement to our current product portfolio, in line with our focused strategic approach in dermatology, gynecology and urology."
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, 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. A second wave of marketing applications within the European mutual recognition procedure is planned, with Germany serving as the reference state in this process.
Veregen®: Veregen® (previously Polyphenon E® ointment) for the topical treatment of external genital warts is 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.
Triton Pharma Inc.: The Canadian Company Triton Pharma, founded in 2005, specializes in the commercialization of prescription drugs in gynecology (women's health), urology, and dermatology. With proprietary and licensed products on the market, the company is successfully positioning itself as the ideal partner for Companies wishing to establish their products in Canada. Further information can be obtained at: www.tritonpharma.ca.
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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