Corporate
2018.06.08
LT1001 out-licensed to ASEAN Region
(Taipei, Taiwan. June 8, 2018) Following licensing of Naldebain®, a long acting analgesic injection (also referred as“LT1001”) to Skyline Vet Pharma for veterinary-use in North America, Australia and New Zealand markets earlier this year, Lumosa Therapeutics Co., Ltd. (“Lumosa”)( 6535. TWO) announced the signing of a license agreement with Amed Co., Ltd. (“Amed”) for its marketing and manufacture right in the ten countries of the Association of Southeast Asian Nations (ASEAN).
The licensed territories include the ten member states of ASEAN, and the license term is twenty years. Amed obtains the exclusive right to sell, develop and commercialize the product, Naldebain® in these countries, and is responsible for obtaining market authorization in the individual countries. ASEAN countries have shown strong economic growth, which is expected to continue. The region is a market with great potential.
The total deal size is up to NTD 250 million; including an upfront payment of NTD 10 million and several milestone payments thereafter. Upon commercial launch of the product in the licensed markets, Lumosa will receive royalty payments based on the sales revenue. The exact amount of the milestone payments and the percentage of royalty are not disclosed due to the parties’mutual confidentiality agreement.
Amed is the leading medical device sales company in Taiwan in the field of surgical supplies. It has licensed Naldebain® from Lumosa for the Taiwan market in 2016. Through the commercialization of Naldebain®, Amed has developed extensive experiences in pharmaceutical product marketing in Taiwan. In the recent years, Amed has actively explored Southeast Asia markets, and successfully marketed its products in the region. Amed is enthusiastic about the sales of Naldebain® in the Southeast Asia region to leverage its well-established partnerships with local distributors.
Lumosa has successfully licensed Naldebain to partners in Taiwan, China (including Macau and Hong-Kong), USA, Canada, Australia and New Zealand. This Southeast Asia license agreement not only brings in near term income to Lumosa, it also further increases its global reach.
Naldebain® is best known for its safety and long-acting features. It is the only analgesic injection drug to offer a 7-day pain-relieving effect that is indicated for the relief of moderate/severe post-surgical pain. The analgesic effect of Naldebain® is comparable to that of morphine but with much fewer side effects and better safety profile, offering higher pharmacoeconomics that may facilitate patients' post-surgical recovery. In the meantime, Naldebain® reduces the use of concomitant medication, lowers the burden and risks of healthcare professionals, and improves patients' quality of life.
Dr. Wendy Huang, CEO of Lumosa indicated " Southeast Asia region has considerable demand for pharmaceutical products. Although the market environment differs from country to country, the safety and long-acting feature of Naldebain® offers a marketing edge in every market. With Amed’s wonderful track record and its solid partnership with local distributors. Lumosa is confident that Naldebain® will be successfully marketed in the Southeast Asia region.”
The licensed territories include the ten member states of ASEAN, and the license term is twenty years. Amed obtains the exclusive right to sell, develop and commercialize the product, Naldebain® in these countries, and is responsible for obtaining market authorization in the individual countries. ASEAN countries have shown strong economic growth, which is expected to continue. The region is a market with great potential.
The total deal size is up to NTD 250 million; including an upfront payment of NTD 10 million and several milestone payments thereafter. Upon commercial launch of the product in the licensed markets, Lumosa will receive royalty payments based on the sales revenue. The exact amount of the milestone payments and the percentage of royalty are not disclosed due to the parties’mutual confidentiality agreement.
Amed is the leading medical device sales company in Taiwan in the field of surgical supplies. It has licensed Naldebain® from Lumosa for the Taiwan market in 2016. Through the commercialization of Naldebain®, Amed has developed extensive experiences in pharmaceutical product marketing in Taiwan. In the recent years, Amed has actively explored Southeast Asia markets, and successfully marketed its products in the region. Amed is enthusiastic about the sales of Naldebain® in the Southeast Asia region to leverage its well-established partnerships with local distributors.
Lumosa has successfully licensed Naldebain to partners in Taiwan, China (including Macau and Hong-Kong), USA, Canada, Australia and New Zealand. This Southeast Asia license agreement not only brings in near term income to Lumosa, it also further increases its global reach.
Naldebain® is best known for its safety and long-acting features. It is the only analgesic injection drug to offer a 7-day pain-relieving effect that is indicated for the relief of moderate/severe post-surgical pain. The analgesic effect of Naldebain® is comparable to that of morphine but with much fewer side effects and better safety profile, offering higher pharmacoeconomics that may facilitate patients' post-surgical recovery. In the meantime, Naldebain® reduces the use of concomitant medication, lowers the burden and risks of healthcare professionals, and improves patients' quality of life.
Dr. Wendy Huang, CEO of Lumosa indicated " Southeast Asia region has considerable demand for pharmaceutical products. Although the market environment differs from country to country, the safety and long-acting feature of Naldebain® offers a marketing edge in every market. With Amed’s wonderful track record and its solid partnership with local distributors. Lumosa is confident that Naldebain® will be successfully marketed in the Southeast Asia region.”
