– Marketing authorizations in Russia and Kazakhstan to be transferred to FarmaMondo
Solna, Sweden, September 17, 2021 – Oasmia Pharmaceutical AB, an oncology-focused specialty pharmaceutical company, today announces that it has signed a license agreement with the Swiss-based FarmaMondo Group for the commercialization of Paclical® (Apealea®) in Russia and the Commonwealth of Independent States.
Paclical® is the first water-soluble cancer drug with paclitaxel to receive a market authorization and is used for the treatment of for epithelial ovarian cancer, fallopian tube cancer and peritoneal cancer.
Under the terms of the agreement, the marketing authorizations which Oasmia holds in Russia and Kazakhstan will be transferred to FarmaMondo. FarmaMondo will also be responsible for all future development and commercialization activities in Russia and the Commonwealth of Independent States, which includes Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, and Uzbekistan. Oasmia will supply FarmaMondo with Paclical® and will receive product supply revenues.
The signing of this agreement heralds the completion of the out-licensing of Apealea globally and Oasmia anticipates starting to receive royalties from these partnerships during 2022.
François Martelet, M.D., CEO of Oasmia, commented: “FarmaMondo is an excellent commercial partner for Paclical® with a rapidly growing portfolio of high quality products in Russia and the CIS. It is focused on providing market access and specialty distribution services, through its unique and established infrastructure and geographical footprint. This agreement will enable us to focus our resources on significant value-enhancing corporate activities including pipeline development and M&A.”
Yaron Spigel, President of the Board and Group CEO at FarmaMondo added: “We are looking forward to commercialising and selling Paclical® in Russia and the CIS. Cremophor-EL is highly toxic, requires long infusion times, and can cause serious hypersensitive allergic reactions, requiring premedication with steroids and antihistamines. As a non-Cremophor based formulation of paclitaxel we believe that Paclical® could offer a valuable alternative for many advanced ovarian cancer patients.”
For More Information:
Oasmia Pharmaceutical AB
Francois Martelet, Chief Executive Officer
Phone: +46 18-50 54 40
Consilium Strategic Communications
Jonathan Birt, Chris Welsh, Ashley Tapp
Phone: +44 (0)20 3709 5700
About Oasmia Pharmaceutical AB
Oasmia is a specialty pharmaceutical company focused on the development of new therapeutic options for patients suffering from hard-to-treat cancers. It has a growing pipeline of clinical-stage assets targeting late-stage cancers. Apealea® (paclitaxel micellar) is being made available to ovarian cancer patients through a partnership with Elevar Therapeutics, Inc. Development programs include Cantrixil, in clinical development for late-stage ovarian cancer, and docetaxel micellar, in development for advanced prostate cancer. Oasmia has proprietary drug delivery technology designed to improve solubility, efficacy and safety. Oasmia’s shares are traded on Nasdaq Stockholm (OASM). To find out more about Oasmia please visit www.oasmia.com.
FarmaMondo is a Swiss-headquartered pharmaceutical group focused on providing market access and specialty distribution services, through a unique infrastructure and geographical footprint targeted to providing access to medicines across unlicensed and licensed phases. For more information about FarmaMondo please visit www.farmamondo.com.