Lumosa Enters Exclusive Distribution Agreement for Its Extended-Release Analgesic Injection with Swiss’s Ideogen AG
Taiwan-originated New Drug to Gain a Foothold in Switzerland
(July 31st, 2019, Taipei) Lumosa Therapeutics (Lumosa; 6535:TWO) has entered an exclusive distribution agreement today with Ideogen AG (Ideogen), a pharmaceutical group head quartered in Switzerland, for LT1001, the world's first 7-day extended-release analgesic injection developed by Lumosa. According to the agreement, Lumosa will supply the products while Ideogen will be responsible for the registration, medico-marketing and sales of LT1001 in Switzerland. Ideogen will further investigate clinical development opportunities together with Lumosa for long term adoption of LT1001 where suitable.
Most emerging markets outside of Europe/US/Japan recognize pharmaceutical products approved by Swissmedic, and accept the Swiss dossiers for marketing authorization. Lumosa will explore licensing opportunities in the rest of the world region using Switzerland as a springboard.
Switzerland is well known for its value-adding pharmaceutical industry. Switzerland has numerous medical-related companies; the headquarters of Roche, Novartis, Bayer (Consumer Health Division), Lonza, and Abbott (Established Pharmaceuticals Division) are in Basel. Not to mention other international pharmaceutical companies such as Takeda, Biogen, Amgen, Celgene, and Baxter set up regional headquarters in Switzerland also. The number of novel drugs contributed by Switzerland ranked second place globally, with the US leading the world.
Ideogen Group was founded by H. Tuygan Göker. Prior to Ideogen A.G., Mr. Göker served in various senior executive positions at Hoffman La Roche and its affiliated companies for 35+ years. Amongst many positions; he was Global Director of Oncology, Virology, Anti-infectives Units prior to taking a position at the Pharma Executive Board and having a responsibility for over 150+ countries. Ideogen has excellent pharmaceutical R&D investments and regulatory affairs teams and has also engaged in pharmaceutical manufacturing and new drug clinical development programs within the group and subsidiaries. Several of Ideogen’s pipelines, including carmustine for oncology and cidofovir for infectious diseases, were approved and are currently on the market. Ideogen recognized the commercial potential of LT1001 and approved the quality of Lumosa’s data after a thorough evaluation. Ideogen will submit the LT1001 dossier in Switzerland for market approval.
Ideogen A.G. and its group subsidiaries and group affiliates have a history of solid business relationships with several international pharmaceutical companies; few of which are Sanofi, Novimmune, Emcure Group, BASF, Zentiva, Lediant and Dr.Reddy. Besides Switzerland, the company has business investments and commercial activities in Europe, Middle East and North Africa. In the coming years Ideogen A.G. is mandated to rapidly grow its portfolio of partners with late-stage or in-market innovative R&D startups who are looking to leverage commercialization in Switzerland as a springboard for regulatory, medical and clinical recognition by highly regulated and recognized markets.