DUBAI, United Arab Emirates, Sept. 22 /PRNewswire/ -- NewBridge Pharmaceuticals announced that it has signed an exclusive licensing and distribution agreement with Orexo AB (STO: ORX) that grants NewBridge rights to seek approval for Abstral™, Orexo's product for treatment of breakthrough cancer pain, in the Middle East and Africa and, where approval is granted, to market and sell the product in these territories. The agreement covers 64 countries across the Middle East and Africa, and excludes Israel where the product is already partnered.
Under the terms of the agreement, Orexo will supply NewBridge with Abstral™ product. The agreement includes milestone and revenue sharing payments; the detailed financial terms are not being disclosed. NewBridge will also be responsible for managing the regulatory approval process and commercialisation in each of the relevant countries.
Joe Henein, President and CEO of NewBridge
"Abstral™ is a valuable addition to enhance our growing oncology portfolio. Across our core geographic region there are many markets with strong economic growth and increased demand for improved health care and more effective products. We strongly believe that Abstral™ has a great potential in the territory and will contribute significantly to physicians' abilities to treat patients experiencing breakthrough cancer pain, hence improving quality of life for these patients."
Torbjorn Bjerke President and CEO of Orexo
"This agreement with NewBridge will enable sales of Abstral™ in additional geographic territories and is another step in developing Abstral™ into a global brand. Our partnership with NewBridge will allow Abstral™ to be available for thousand of doctors to help them manage patients suffering breakthrough cancer pain."
Abstral™ is a fast-dissolving tablet for sub-lingual administration of fentanyl, intended for the management of breakthrough cancer pain in patients who are already receiving opioid analgesics. It is based on Orexo's unique and patented sublingual tablet technology in which a rapidly dissolving tablet is placed under the tongue and the active substance is absorbed by the mucous membrane. Currently Abstral™ is sold in fourteen countries in Europe, and reached sales of 7.4 M pounds in the first half of 2010.
About Breakthrough Cancer Pain
Breakthrough pain ("BTP") is an acute and often severe flare of pain experienced by patients suffering from cancer that occurs even though a person may be taking opioid pain relief medicine regularly for their persistent pain. It is known as breakthrough pain because it is pain that "breaks through" a regular pain medicine schedule. It may be caused by the cancer itself or it may be related to cancer treatment. For some people, breakthrough pain occurs during certain everyday activities, such as walking or dressing. For others, it occurs unexpectedly without any apparent cause.
Between 64% and 89% of patients with cancer experience BTP, and they average 4 to 7 episodes per day. In a recent survey of patients with cancer BTP:
The American Pain Foundation. Breakthrough Cancer Pain Survey Fact Sheet.
Available at: http://www.painfoundation.org
About NewBridge Pharmaceuticals
NewBridge Pharmaceuticals is a specialty pharmaceutical, biologics, diagnostics and medical device company serving the Middle East, Africa, Turkey, and Caspian regions (collectively, AfMET) to address the unmet needs of diseases with high regional prevalence such as diabetes, obesity, oncology, cardiovascular diseases and other metabolic disorders. NewBridge in-licenses and commercializes FDA and EMA approved therapeutics and devices. Headquartered in Dubai, United Arab Emirates with Business Development Capabilities in the US, NewBridge was founded by Burrill & Company, a San Francisco-based Life Science Venture Capital, Private Equity, Merchant Banking and Media firm. NewBridge Pharmaceuticals is uniquely positioned to be the partner of choice for pharmaceutical, biotechnology, molecular diagnostic and medical device companies seeking to create value for their products in these high growth emerging markets. NewBridge was advised on this Transaction by Burrill Merchant Bank, LLC.
More information can be found at www.nbpharma.com
Orexo is a pharmaceutical company focusing on developing treatments for pain and inflammation. Orexo is developing proprietary products based on its proven reformulation technologies, targeted at the Specialty Pharmaceutical market. Orexo intends to commercialise some of these products itself in one or more major markets. Its development activity builds on Orexo's core competences in R&D, which have previously resulted in several successful products, currently out-licensed through worldwide partnership agreements to larger pharmaceutical companies.
Today, Orexo has four products on the market of which Abstral™ is a leading brand for the treatment of breakthrough pain in cancer patients in most of Europe. Orexo also has three significant partnerships with major pharmaceutical companies for research and development programs: discovery stage collaborations with Ortho-McNeil Janssen and Janssen Pharmaceutica in respiratory inflammation and with Boehringer Ingelheim for pain, both within the arachidonic acid cascade and a clinical stage development agreement with Novartis in gastrointestinal disorders. Orexo's head office is located in Uppsala, Sweden.
More information can be found at www.orexo.com.
|SOURCE NewBridge Pharmaceuticals|
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