TIDMETX
RNS Number : 7613N
e-Therapeutics plc
24 February 2009
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| Press Release | 24 February 2009 |
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e-Therapeutics plc
("e-Therapeutics" or "the Company")
e-Therapeutics and Khandelwal Laboratories sign a 50% revenue share agreement
for sales in India for
three late-stage drug candidates
e-Therapeutics plc (AIM: ETX), the drug discovery and development company, today
announces it has entered into an agreement with Khandelwal Laboratores Pvt. Ltd
(KLAB), a specialist pharmaceutical company based in Mumbai, India.
The agreement commits KLAB to undertake all further formulation and clinical
development necessary to gain regulatory marketing approval for the drugs in the
Indian market. The two companies will share revenues from the medicines in India
50:50 after manufacturing costs. e-Therapeutics will retain its exclusive rights
in all other markets to all data and IP developed in the partnership with KLAB.
The Agreement follows the successful results from e-Therapeutics' Phase II
trials of the Company's oral asthma (ETX9101) and antidepressant (ETS6103)
medications, and the successful completion of preclinical studies of the
Company's topical antibiotic (ETX1153b).
KLAB operates a sales team of more than 800 representatives, covering 160,000
doctors, and 64,000 pharmacies throughout India. This marketing capability
enabled KLAB to deliver the fastest growing sales of any product launched in
India between 2004 and 2006 (Cefi XLTM). KLAB has also gained a US$ 8-figure
payment in 2008 for out-licensing some of its products to other pharmaceutical
companies nine of which products have been licensed to seven different companies
to date. KLAB has filed more than 200 patents, has successfully defended against
patent infringement in India, and has brought novel products through to
regulatory marketing approval.
Commenting on the Agreement, the CEO of KLAB, Sanjeev Khandelwal, commented: "We
are excited to be working with e-Therapeutics on the development and marketing
of these new medicines in India. The market potential for these three drugs is
currently more than GBP220 million per year, and all three markets are growing
swiftly. The properties of these experimental medicines, if borne out in the
Phase III clinical studies we will shortly be starting, will bring benefit to
very many patients and yield substantial market penetration".
Professor Malcolm Young, CEO of e-Therapeutics, said: "I am very impressed by
KLAB's growing track record of undertaking successful development and
regulation, successful defense of IP, and its rapid market penetration in the
distinctive Indian market. We are very pleased that KLAB are bringing their
expertise and infrastructure to this partnership with e-Therapeutics. If the
Phase III clinical results are as expected, the agreement should bring
e-Therapeutics not only substantial revenues from Indian sales, but also high
quality clinical data for our exclusive use in the seven major markets."
- ENDS -
For further information:
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| e-Therapeutics plc | www.etherapeutics.co.uk |
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| Malcolm Young | +44 (0)191 233 1317 |
| malcolm@etherapeutics.co.uk | |
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| | |
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| WH Ireland | |
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| David Youngman | +44 (0) 161 832 2174 |
| david.youngman@wh-ireland.co.uk | |
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Media enquiries:
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| Abchurch | www.abchurch-group.com |
| | +44 (0) 207 398 7700 |
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| Heather Salmond | +44 (0) 207 398 7704 |
| heather.salmond@abchurch-group.com | |
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| Stephanie Cuthbert | +44 (0) 207 398 7718 |
| stephanie.cuthbert@abchurch-group.com | |
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| Simone Alves | +44 (0) 207 398 7728 |
| simone.alves@abchurch-group.com | |
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Notes to Editors
About e-Therapeutics
e-Therapeutics plc is a drug discovery and development company. It has developed
proprietary computational systems to swiftly and accurately analyse and predict
how medicines interact with cells in the body. This optimises the probability of
identifying drug candidates with desirable efficacy and low toxicity. The
Company applies its novel, systematic approach in three areas of activity:
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| * | Discovery of new de-risked drugs; |
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| * | Discovering novel uses for existing drugs; and |
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| * | Analysis of the interactions between different drugs. |
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Amongst e-Therapeutics' pipeline of compounds in development are an oral asthma
treatment in Phase II clinical trials, a novel-mechanism antidepressant, also in
Phase II clinical trials, novel antibiotics that have been shown to kill the
"superbug" MRSA, and a novel cancer chemotherapy that has been shown to kill
malignant cells at safe doses in a very short time. The Company is currently in
negotiations with a number of pharmaceutical companies and is progressing the
preclinical and clinical development of these products.
For further information on e-Therapeutics visit .
For further information on KLAB please go to:
http://www.khandelwallab.com/
This information is provided by RNS
The company news service from the London Stock Exchange
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