ERYtech Pharma to Partner with Teva for Long Term Distribution Agreement in Israel
LYON, France & PHILADELPHIA--(BUSINESS WIRE)--May 17, 2011 - ERYtech Pharma is pleased to announce it has signed an exclusive long term agreement with Teva for the registration, marketing, distribution and sale of Graspa®, the company's lead product, in Israel.
ERYtech is a leading specialty pharma company developing new high value medicinal products for unmet clinical needs in the field of oncology, hematology and immunology. Graspa® is the company˜s lead product currently in pivotal trial in Europe. Teva leading position, long history in oncology and specialty segment will provide a solid platform for Graspa® and made them an ideal partner for product market introduction in Israel. ERYtech anticipates that first sales could be generated in less than 15 months.
Under the terms of the agreement, Teva will submit the drug for approval in Israel, market and distribute it in the territory for a long term period. Teva will pay milestone payments in addition to sharing profit on the basis of purchase price agreed with Teva.
“This collaboration represents a significant milestone as first distribution agreement and a major step in the worldwide product expansion” said Pierre-Olivier Goineau, Chief Executive Officer. “Thanks to its good efficacy and safety profile, Graspa®, will bring major therapeutic value for Israeli patients in ALL.”
GRASPA® is a new enzyme formulation of L-asparaginase with a safer and broader range of clinical uses compared to existing forms due to the enzymes entrapment and protection inside the homologous red blood cell. GRASPA®'s (encapsulating L-asparaginase in red blood cells) interest is to overcome all existing limitations associated with conventional L-asparaginase through a longer efficacy, better compliance, reduced dosage and an increased safety profile.
About ERYtech Pharma
ERYtech Pharma (Lyon, Philadelphia) is a specialty pharma company developing innovative therapeutic solutions based on its proprietary technology and expertise in the physiological properties of erythrocytes. The company addresses serious pathologies, orphan indications or sub-populations of patients, particularly in the fields of haematology, cancer and metabolic diseases. It has built in less than six years a strong pipeline with very ambitious programs and a powerful proprietary R&D platform offering large possibilities of new therapeutics products and applications.
Contact: ERYtech Pharma :
Pierre-Olivier Goineau, CEO
Tel : + 33 (0)4 78 74 44 38
ERYtech Pharma US Office :
3711 Market Street, 19104
Philadelphia PA - USA
Posted: May 2011