STOCKHOLM, SWEDEN – March 8, 2016. PharmaResearch Products Ltd. and Lipopeptide AB today announced a strategic collaboration to co-develop and market two therapeutic peptides that have been developed by Lipopeptide AB through Phase II. The products are aimed for advanced wound care.
The two companies will collaborate on the clinical development and marketing of PXL01, a novel therapeutic peptide for prevention of post-surgical adhesions after tendon- and nerve-repair procedures and on the clinical development of LL-37, a therapeutic peptide aimed for the treatment of hard-to-heal ulcers of the leg and foot.
Lipopeptide has developed two therapeutic peptides for which positive Phase 2 data has been obtained in recent clinical trials. These proprietary product candidates are based on human peptide sequences of molecules that are part of the innate immune system. According to recent estimates by Markets&Markets, the world-wide market for advanced wound care products is expected to reach € 15 billion by 2020. Moreover, this global market segment is expected to grow at CAGR of 7% from 2015 to 2020, due to the rising aging population, growing incidences of diabetes, and technological advancements.
“There is an exquisite match between the resources in process development, advanced aseptic manufacturing and marketing held by PharmaResearch Products Ltd. and the clinical development capabilities that Lipopeptide has acquired for these wound care products,” says Jonas Ekblom, President of Pergamum. “PXL01 and LL-37 are aimed as offerings in two markets that are very underserved in respect to new pharmaceutical products.”
The collaboration will involve an undisclosed investment by PharmaResearch Products for purchase of shares in Lipopeptide AB, as well as in-kind investments in the form of clinical development support, process development and manufacturing. In accordance with the terms of the collaboration, PharmaResearch Products shall become the exclusive world-wide supplier of PXL01 in hyaluronic acid, which is Lipopeptide’s flagship program. The products will be aimed for market registration on several international markets, including the EU and Southeast Asia, and the global rights will be shared between the companies.
“We are delighted to see this strategic collaboration with Lipopeptide. These product candidates provides a unique and synergistic complement to our existing portfolio of products and is an important step in our international expansion strategy,” commented Jung Sang-Soo, CEO of PharmaResearch Products Ltd.
The clinical development of these product opportunities will be conducted in the EU, India and in the Republic of Korea, and will be executed as a collaboration between PharmaResearch Products Ltd. and Lipopeptide.
For further information, please contact:
Jonas Ekblom, President, Pergamum AB
Phone: +46 (0)70 551 66 60, e-mail: jonas.ekblom@pergamum.com
Satyendra Kumar, Vice President, PharmaResearch Products Ltd.
Phone: (+82)-31-8039-1580, e-mail: kumar@pr-products.co.kr
About Lipopeptide AB
Lipopeptide, and its fully owned subsidiary Pergamum AB, is a biopharmaceutical company specialized in the development of therapeutic peptides for local application in infections and wounds. The company’s vision is to develop a portfolio of unique development programs representing high medical value that ultimately, through global partnerships, will result in first-in-class and first-in-category products. The current development pipeline includes several therapeutic peptides of which three programs are in clinical development, with potential for use in several medical applications. Please visit our web site: www.pergamum.com.
About PharmaResearch Products Ltd.
PharmaResearch Products Ltd. is a South Korean biopharmaceutical company with headquarters in Seongnam-si, Gyeonggi-do. PharmaResearch Products Ltd. is on the forefront of research in regenerative medicine in the Republic of Korea and is determined to expand its scope of R&D and manufacturing activities into important markets all over the world. Currently, the company supports marketing and sales of several unique products, including the Rejuran product line. PharmaResearch Products Ltd is listed on KOSDAQ.