Corporate
2015.12.09
Lumosa out-licenses LT1001 to Taiwan
Signing of Exclusive Taiwanese Marketing Agreement for Lumosa’s LT1001, A Long Acting Injection for Moderate to Severe Pain
Lumosa Therapeutics announced the signing of an exclusive agreement with InteRx Biomedical Co. Ltd. (InteRx), a subsidiary of AMED Co. Ltd. (AMED) to commercialize LT1001, a long-acting injectable for moderate to severe pain, in Taiwan. This licensing agreement is the third milestone for LT1001 in 2015 after successfully completed a Phase III clinical study last August and the NDA submission to the TFDA last September. Out-licensing of LT1001 is in progress in several other markets.
Under the agreement, Lumosa grants InteRx exclusive rights to market LT1001 in Taiwan, as well as the right to further clinical development. Lumosa will receive an upfront payment at the signing of this agreement, followed by milestone payments and royalties based on certain percentage of the total sales revenue. Both companies will continue to invest in the future development of the LT1001 and share the results of clinical trials. This agreement totals up to $NT 100M and the close collaboration in clinical development by the two companies is expected to generate an even greater value for the asset. Dr. Wendy Huang, President and CEO of Lumosa, said: "In less than 18 months since Lumosa took over the development of LT1001 in June 2014, enrollment of Phase III clinical trial was expedited, NDA for LT1001 was submitted to TFDA ahead of schedule, and an out-licensing agreement to market LT1001 in Taiwan was executed; demonstrating Lumosa’s ability to take on the challenge of innovative drug development, and to turn successful R & D achievements into real income."
LT1001 is new drug product “made in Taiwan” from its inception to market. Lumosa submitted LT1001’s first NDA and hope to receive the drug’s first approval in Taiwan. Once approved, with its extended-release formulation, LT1001 will become the world's first long-acting injectable analgesic for up to a week efficacy. LT1001 relieves the need for repeated drug administration; it will not only enhance the quality of life of the pain patients, but also alleviate the burden of health care takers.
About InteRx and AMED:
InteRx has leading sales and marketing team in the field of surgical system in Taiwan covering all medical centers, regional hospitals, clinics and pharmacies. Amed Co. Group focuses on the development and production of UV-crosslinked Hydrogel technology providing wound care through various types of hydrogel dressing. Amed markets medical devices in China, South-East Asia, and Central South America.
About Lumosa:
Lumosa Therapeutics is dedicated to the development of innovative new drugs for unmet medical needs in the fields of CNS, oncology, and inflammatory diseases. The company is actively engaged in scientific licensing and new drug development under a “reSEARCH and DEVELOPMENT” model where the company“searches” for candidates with strong scientific rationale and high feasibility of technical success, and progress them to novel therapies via inventive and effective development programs. Lumosa is seeking international partners for collaboration in clinical trial and/or product development. Two front runners in the company’s pipeline are LT1001 for moderate to severe pain relief and LT3001 for acute ischemic stroke.
Lumosa Therapeutics announced the signing of an exclusive agreement with InteRx Biomedical Co. Ltd. (InteRx), a subsidiary of AMED Co. Ltd. (AMED) to commercialize LT1001, a long-acting injectable for moderate to severe pain, in Taiwan. This licensing agreement is the third milestone for LT1001 in 2015 after successfully completed a Phase III clinical study last August and the NDA submission to the TFDA last September. Out-licensing of LT1001 is in progress in several other markets.
Under the agreement, Lumosa grants InteRx exclusive rights to market LT1001 in Taiwan, as well as the right to further clinical development. Lumosa will receive an upfront payment at the signing of this agreement, followed by milestone payments and royalties based on certain percentage of the total sales revenue. Both companies will continue to invest in the future development of the LT1001 and share the results of clinical trials. This agreement totals up to $NT 100M and the close collaboration in clinical development by the two companies is expected to generate an even greater value for the asset. Dr. Wendy Huang, President and CEO of Lumosa, said: "In less than 18 months since Lumosa took over the development of LT1001 in June 2014, enrollment of Phase III clinical trial was expedited, NDA for LT1001 was submitted to TFDA ahead of schedule, and an out-licensing agreement to market LT1001 in Taiwan was executed; demonstrating Lumosa’s ability to take on the challenge of innovative drug development, and to turn successful R & D achievements into real income."
LT1001 is new drug product “made in Taiwan” from its inception to market. Lumosa submitted LT1001’s first NDA and hope to receive the drug’s first approval in Taiwan. Once approved, with its extended-release formulation, LT1001 will become the world's first long-acting injectable analgesic for up to a week efficacy. LT1001 relieves the need for repeated drug administration; it will not only enhance the quality of life of the pain patients, but also alleviate the burden of health care takers.
About InteRx and AMED:
InteRx has leading sales and marketing team in the field of surgical system in Taiwan covering all medical centers, regional hospitals, clinics and pharmacies. Amed Co. Group focuses on the development and production of UV-crosslinked Hydrogel technology providing wound care through various types of hydrogel dressing. Amed markets medical devices in China, South-East Asia, and Central South America.
About Lumosa:
Lumosa Therapeutics is dedicated to the development of innovative new drugs for unmet medical needs in the fields of CNS, oncology, and inflammatory diseases. The company is actively engaged in scientific licensing and new drug development under a “reSEARCH and DEVELOPMENT” model where the company“searches” for candidates with strong scientific rationale and high feasibility of technical success, and progress them to novel therapies via inventive and effective development programs. Lumosa is seeking international partners for collaboration in clinical trial and/or product development. Two front runners in the company’s pipeline are LT1001 for moderate to severe pain relief and LT3001 for acute ischemic stroke.
