Veloxis Pharma signs agreements to commercialise Envarsus XR in China, Taiwan and Canada
Danish-based Veloxis Pharmaceuticals’ US subsidiary has signed two different exclusive licence, supply and distribution agreements to register, commercialise and distribute Envarsus XR in China, Taiwan and Canada.
The firm has partnered with Chiesi Farmaceutici to commercialise the drug in China and Taiwan, while Endo Ventures and its affiliate Paladin Labs were selected for the Canadian market.
With approval in Europe and the US, Envarsus XR is a formulation of tacrolimus extended-release tablets developed for the prevention of organ rejection in case of kidney transplant patients.
The current deal between Veloxis and Chiesi is an extension of a prior agreement signed in October 2012 to include the territories of Europe, Turkey and ex-CIS countries.
Chiesi is reported to have delivered Envarsus XR to more than 5,000 patients in 18 countries.
The initial term of the latest agreement between the firms is 15 years and Veloxis is set to secure an up-front payment of $6m, as well as a milestone payment after approval.
Veloxis Pharmaceuticals CEO Craig Collard said: "We are very excited to grow our partnership with Chiesi through this territory expansion. Chiesi has proven to be a consistent and committed partner for Envarsus in Europe.
“With an already-established direct presence in China, Chiesi is well-positioned to capitalise on the large and growing transplant opportunity in China."
The agreement between Veloxis and Endo Ventures is also termed for 15 years and will involve commercialisation by Paladin.
Collard further noted: "Canada is a highly competitive market for tacrolimus formulations and we are very pleased to have attracted Endo Ventures and its affiliate, Paladin Labs, which has a rich history of Health Canada approvals and launches of licensed products for Canada to join the growing Envarsus XR family."