MediGene Signs Veregen® Commercialization Agreement with SynCore Bio in Taiwan
* Reuters is not responsible for the content in this press release. Wed May 18, 2011 2:31am EDT MediGene AG / MediGene Signs Veregen® Commercialization Agreement with SynCore Bio in Taiwan . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement. Martinsried/Munich, May 18, 2011. The biotech company MediGene AG (Frankfurt, Prime Standard) has signed an exclusive license and supply agreement with SynCore Bio, a subsidiary of the Sinphar Group, for the commercialization and marketing of Veregen® ointment in Taiwan for the treatment of genital warts. MediGene will supply Sinphar with API, Sinphar will produce the drug in its Taiwan manufacturing facilities and SynCore Bio will market and sell the ointment in Taiwan. Financial details of the agreement were not disclosed. 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. Sinphar Pharmaceutical: Sinphar Pharmaceutical Co, Ltd (Taiwan Stock Exchange, Symbol: 1734),with subsidiaries in China and Canada, specializes in the sales and marketing of pharmaceutical products and dietary supplements. It is also involved in the research and development of botanical new drugs. One project is currently undergoing US FDA phase II trial and another project is in the process of US FDA IND submission. Its manufacturing facilities are approved by the Taiwanese FDA and Japan PMDA according to PIC/s GMP guidelines. Further information can be obtained at: www.sinphar.com. SynCore Bio: Syncore Biotechnology Co., Ltd, a joint venture between Sinphar Pharmaceutical Co., Ltd and the National Health Research Institute of Taiwan, is focused on the development of new drugs. Currently, it has started a phase I first-in-man trial on an anti-cancer new chemical entity. Another anti-cancer NCE project is in the pre-IND stage. 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.
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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