STA inks license and commercialisation agreement with PharmaMar for APLIDIN (plitidepsin)

Australian biopharmaceutical company Specialised Therapeutics Australia has struck an exclusive license and commercialisation agreement with European pharmaceutical partner company PharmaMar to market and distribute the novel oncology drug APLIDIN^® (plitidepsin) in Australia and New Zealand.

Under the terms of the agreement, PharmaMar will receive an upfront payment, royalties and additional remunerations for regulatory and sales milestones achieved by APLIDIN^® (plitidepsin).

PharmaMar will retain production rights and will supply the finished product to STA for exclusive commercial use in Australia and New Zealand.

APLIDIN^® (plitidepsin) is PharmaMar´s second anticancer drug candidate obtained from a marine organism. This first in class drug is currently in development for the treatment of multiple myeloma and a type of T cell lymphoma. The company announced in June that patient recruitment of the international pivotal Phase III trial (ADMYRE) for APLIDIN^® (plitidepsin) in refractory/relapsed multiple myeloma was successfully completed.

Specialised Therapeutics Australia Chief Executive Officer Mr. Carlo Montagner said: "Multiple myeloma remains relatively rare, but it is an insidious disease with one of the lowest survival rates in oncology.

"There is a desperate need for new therapies and all data to date suggests APLIDIN^® could become a first in class, novel drug to potentially improve therapeutic tools for multiple myeloma patients.

"This drug is a welcome addition to STA's expanding oncology portfolio and we look forward to making this treatment option available to patients in Australia and New Zealand, pending the release of pivotal Phase 3 data confirming its efficacy.

"We applaud PharmaMar's commitment in developing this important therapy and are delighted to collaborate with a partner of this calibre."

Jose Maria Fdez. Sousa-Faro,Chairman of PharmaMar said: "Our commitment to bringing innovative therapies to all patients continues, and this collaboration with a strong pharmaceutical group in Australia and New Zealand is crucial for the role of the anticancer drug plitidepsin in these two important territories."