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Cosmo Pharmaceuticals N.V.
/ Key word(s): Agreement
Dublin, Ireland – 4 September 2023: Cosmo Pharmaceuticals N.V. (SIX: COPN, XETRA: C43) (“Cosmo”) and Adalvo Ltd. (“Adalvo”) today announced the signing of a license and supply agreement for Rifamycin SV with MMX® technology in Europe, Asia-Pacific (APAC), Middle East/North Africa (MENA) and Latin America (LATAM) regions.
Under the terms of the agreement, Adalvo will receive from Cosmo the exclusive right to develop, register and commercialize Rifamycin SV MMX® 200mg in these respective regions. Cosmo will be the exclusive supplier of the product. Cosmo will receive an upfront payment in addition to potential regulatory and sales milestones and customary double-digit royalties on net sales.
Rifamycin SV MMX® is an orally administered, delayed-release, non-systemic antibiotic approved for the treatment of Travelers' Diarrhea caused by certain bacteria. It works by stopping the growth of the bacteria that cause diarrhea. It is the first antibiotic engineered with Cosmo’s proprietary Multi Matrix Technology (MMX®). MMX technology is designed to deliver the active pharmaceutical ingredients in a delayed and controlled manner directly to the lower intestine.
Rifamycin SV MMX® is approved in the US and EU for the treatment of Travellers’ Diarrhea. In the US it is currently licensed to Cosmo’s partner RedHill Biopharma under the brand name Aemcolo® (containing 200 mg of rifamycin sodium, equivalent to 194 mg of rifamycin). Adalvo will take the lead in obtaining approvals for Rifamycin SV MMX® in the Asia-Pacific (APAC), Middle East/North Africa (MENA) and Latin America (LATAM) regions, as well as selected European countries, extending the reach of this innovative treatment to a broader global audience.
Alessandro Della Chà, CEO of Cosmo, said: “We are looking forward to working together with our new partner Adalvo to make Rifamycin SV MMX® 200mg available in these other regions besides the US. Adalvo has accessed over 100 markets to date and is able to address over 95% of the global pharmaceutical market worldwide. Travellers’ Diarrhea is a very large market, and we are convinced Adalvo is the right partner to properly exploit it.”
Anil Okay, CEO of Adalvo, stated: “Adalvo is thrilled to embark on this strategic partnership with Cosmo for the distribution of Rifamycin SV MMX® 200mg in the Europe, APAC, MENA, and LATAM regions. This agreement aligns perfectly with Adalvo's commitment to bringing innovative and impactful pharmaceutical solutions to patients around the world. Our extensive global network and dedication to bringing high-quality products make us the ideal partner to introduce Rifamycin to these regions. We look forward to a successful collaboration with Cosmo in advancing healthcare outcomes for patients in need of effective solutions.”
About Adalvo With headquarters in Malta, the company has additional offices in more than 16 countries. At Adalvo, we know that our partners like to be bigger, better, and smarter in the dynamic pharmaceutical sector. That’s why our approach is unique, customized to our partners, and is designed to challenge the status quo: together, this helps our partners achieve their business goals. We take pride in our ability to help its partners reach their goals – be those increasing revenues or pushing into new markets. While partners are a high priority, Adalvo is also committed to its purpose and mission to accelerate the growth and development of employees and local communities. Adalvo tirelessly strives for excellence in all of its endeavors, driven by a deep-rooted passion to making a difference for partners. For more information, please visit . About Cosmo Contacts: Cosmo Hazel Winchester Head of Investor Relations Tel: 0 Adalvo Gabi Cassar VP, Human Resources & Corporate Communications Disclaimer
End of Media Release |
| Language: | English |
| Company: | Cosmo Pharmaceuticals N.V. |
| Riverside 2, Sir John Rogerson’s | |
| Dublin 2 Dublin | |
| Ireland | |
| Phone: | 0 |
| E-mail: | |
| Internet: | / |
| ISIN: | NL0011832936 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1717685 |
| End of News | EQS News Service |
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1717685 04.09.2023 GMT/BST
