Martinsried/Munich, February 21, 2011. The biotech company MediGene AG (Frankfurt, Prime Standard) has signed a license and supply agreement with Pierre Fabre Medicament, for the supply and marketing of Veregen® ointment in Mexico, Central America, Venezuela and Colombia. Pierre Fabre will be responsible for all approval procedures in the concerned countries and will promote and distribute the drug for the treatment of genital warts. MediGene is entitled to successive payments due upon conclusion of the agreement and set milestones. MediGene will supply Pierre Fabre with the drug product and obtain double-digit royalties on sales revenue.
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 Juste S.A.Q.F. for Spain and Portugal and Laboratoires Expanscience for France along with a number of other partners across Europe 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.
Pierre Fabre: The Pierre Fabre group is the second largest independent French pharmaceutical company with a 2009 turnover of Euro 1.80 billion. It employs nearly 10,000 people, including 1,400 employees dedicated to R&D activities. In 2009, Pierre Fabre Medicament dedicated 28% of its annual turnover to R&D in four priority therapeutic areas in public health: cancerology, central nervous system, dermatology, cardiovascular/metabolism. To learn more about Pierre Fabre, please refer to www.pierre-fabre.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. 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 drugs on the market which are distributed by partner companies. It has several drug candidates in clinical development and possesses innovative platform technologies. MediGene focuses on clinical research and development of novel drugs with focus on oncology.
Contact MediGene AG
Julia Hofmann, Kerstin Langlotz
Investor & Public Relations
Tel.: +49 - 89 - 85 65 - 33 01
Fax: +49 - 89 - 85 65 - 29 20
Contact Pierre Fabre
Tel.: +33 - 1 - 49 10 81 12