- Oasmia Pharmaceutical has Expanded the Agreement With OrionCorporation, Finland. Orion's Exclusive Marketing and Sales Rights forPaclical(R) Vet Now Includes all European Countries. Altogether the Agreementnow Amounts to About 10 Million Euro.
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Orion will pay an additional 8 million Euro consisting of a 3.25 millionsigning-fee and milestone payments based on the development and registrationof the product. Oasmia will also receive considerable royalties on all salesin the region. The previous agreement only concerned the Nordic countries anda few countries in Europe with a total of 2 million Euro.
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"After thorough consideration, we have decided that Orion Animal Healthis the ideal partner for Oasmia and Paclical(R) Vet. We share the same viewson development, potential, market and vision for the product. Orion has astrong confidence in our platform and product portfolio. This agreementenables us to focus on the development of our other Animal Healthpharmaceuticals and Orion to focus on the market introduction," says JulianAleksov, CEO of Oasmia.
The first Phase III study on Paclical(R) Vet has just been completed andthe interim results have exceeded all expectations. A second internationalPhase III study is initiated and will constitute the basis for the US andworld-wide registration of Paclical(R) Vet. When registered, Paclical(R) Vetwill be the first cytostatic in the world registered for veterinary medicine.
The market
Today, there are 140 million dogs only in the EU and the US. The market,calculated as the number of dogs over six years old in the EU and the US ofwhich 40 % will suffer from cancer, totals 1.5 billion USD. Europe accountsfor about 35 % of the total world market.
About Oasmia
Oasmia Pharmaceutical AB develops second and third generation cancerdrugs based on nanotechnology for human and veterinary use. The broadportfolio is focused on oncology and contains several promising products inclinical and pre-clinical phase. Oasmia cooperates with leading universitiesand other biotech companies to discover and optimize substances with afavourable safety profile and better efficacy. The company was founded in1998 and is based in Uppsala, Sweden.
More information is available at http://www.oasmia.com orhttp://www.ngm.se
For further information: Media contact Maria Lunden +46-(0)-18-50-54-40or [email protected]
SOURCE Oasmia Pharmaceutical
