AFT Pharmaceuticals (NZX.AFT, ASX.AFP) today announces it has signed a new commercialisation and development agreement for its orphan drug Pascomer, covering the 27 countries within the European Union as well as Switzerland, Norway and the United Kingdom.
The agreement, with Desitin Arzneimittel GmbH, a specialist pharmaceutical company based in Hamburg, Germany, builds on the 2019 North American commercialisation and development agreement for Pascomer with Timber Pharmaceuticals Inc.
Pascomer is being developed to treat facial angiofibromas, a symptom of Tuberous Sclerosis Complex (TSC), a genetic disease, estimated to affect one in 6,0001 people, or an estimated 50,000 patients across Europe2.
Around 66% of those with TSC over the age of two suffer from facial angiofibromas2, which can cause adverse effects on appearance and in serious cases, impair breathing and vision2. At present, there is no standard treatment for the symptom2.
AFT Pharmaceutical Managing Director Dr Hartley Atkinson says: “We are delighted to partner with Desitin, which has excellent coverage and expertise in this therapeutic area across Europe.”
Dr Atkinson said the agreement further demonstrated AFT’s success in driving the commercialisation of its intellectual property around the world, despite the travel restrictions imposed by the COVID-19 pandemic.
“This is the second major agreement this year that has been entirely negotiated and sealed remotely. Our patented medicines, Maxigesic®, Pascomer and our long-lasting hand sanitiser Crystawash® Extend, are being enthusiastically embraced by partners around the world.
“It is a testament to both the efficacy of these products and the commitment of the AFT team to work through the restrictions of the pandemic to deliver these agreements. They are not only driving improved health outcomes globally, but also driving the realisation of the significant latent value we see in our medicine portfolio,” Dr Atkinson said.
Released for and on behalf of AFT Pharmaceuticals by Chief Financial Officer Malcolm Tubby.
For more information
Dr Hartley Atkinson
Tel: +64 9488 0232
Tel: +64 21 645 643
About AFT Pharmaceuticals
AFT is a growing multinational pharmaceutical company that develops, markets and distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic categories which are distributed across all major pharmaceutical distribution channels: over the counter (OTC), prescription and hospital. Our product portfolio comprises both proprietary and in-licensed products, and includes patented, branded and generic drugs. Our business model is to develop and in-license products for sale by our own dedicated sales teams in our home markets of Australia and New Zealand and in certain Southeast Asian markets, and to out-license our products to local licensees and distributors to over 125 countries around the world. For more information about the company, visit our website www.aftpharm.com.
About Desitin Arzneimittel GmbH
Desitin is a German pharmaceutical company who focus on the development and sales of medication for illnesses of the central nervous system in the European continent. Desitin specialize in sophisticated products for the treatment of neurological and psychiatric diseases, with an expertise in skin care.
1Au KS, Williams AT, Roach ES, Batchelor L, Sparagana SP, Delgado MR, et al. Genotype/phenotype correlation in 325 individuals referred for a diagnosis of tuberous sclerosis complex in the United States. Genet Med. 2007 Feb;9(2):88–100.
Dabora SL, Jozwiak S, Franz DN, Roberts PS, Nieto A, Chung J, et al. Mutational analysis in a cohort of 224 tuberous sclerosis patients indicates increased severity of TSC2, compared with TSC1, disease in multiple organs. Am J Hum Genet. 2001;68(1):64–80.
2Tuberous Sclerosis Alliance: https://www.tsalliance.org/