Specialised Therapeutics has entered a collaboration with the Spanish company PharmaMar to distribute a novel oncology drug candidate throughout South East Asia.
Specialised Therapeutics' Asia affiliate has acquired marketing and distribution rights to new multiple myeloma compound APLIDIN (plitidepsin) in a range of countries in South East Asia, as well as Australia and New Zealand.
APLIDIN is a first in class drug currently in development for the treatment of multiple myeloma and a type of T cell lymphoma.
Commercial terms of the agreement are not being disclosed, but PharmaMar will receive an upfront payment, royalties and additional remuneration for regulatory and sales milestones achieved by APLIDIN in these new markets.
The therapy is PharmaMar’s second anti-cancer drug candidate developed from a marine organism.
According to Specialised Therapeutics CEO, Mr Carlo Montagner, the APLIDIN licensing deal was an important step forward as the company expanded operations to include key territories in South East Asia.
“We look forward to working with PharmaMar to ensure this valuable multiple myeloma therapy is available as soon as possible to patients in key South East Asia regions, as well as in Australia and New Zealand,” he said.
“APLIDIN may be highly valuable as a new therapeutic for this difficult to treat cancer. While multiple myeloma remains relatively rare, it is an insidious disease with one of the lowest survival rates in oncology. ST Asia has been established to provide new therapeutics like this one to patients where there is a high unmet need.”
“APLIDIN is the first step. We look forward to changing the lives of patients affected by a range of diseases - not only in oncology - in these new and important markets,” he added.
Melbourne-based Specialised Therapeutics has grown rapidly in recent years on the back of a growing portfolio, which is headlined by the PBS-listed ABRAXANE (nab-paclitaxel) for the treatment of pancreatic cancer.