Notice of Business Alliance between Promethera® Biosciences SA and MEDIPAL HOLDINGS
MONT-SAINT-GUIBERT, Belgium--(BUSINESS WIRE)--Nov 12, 2019--
Promethera ® Biosciences SA (“Promethera ® ”) and MEDIPAL HOLDINGS CORPORATION (“MEDIPAL”) today announced that they have entered into a business alliance agreement. In conjunction with today’s alliance, MEDIPAL has decided to increase its shareholdings in the Promethera ® Group. Details follows below.
The purpose of this alliance
Promethera ® has been developing its lead liver cell-derived technology (HepaStem™) in an area of high medical need, primarily for Non-alcoholic steatohepatitis (NASH), Acute-on-chronic liver failure (ACLF) and urea cycle disorder (UCD). Promethera ® completed the recruitment of 24 patients in its Phase 2a study in Acute-on-chronic liver failure (ACLF) in July 2019. The 3 months follow-up data were presented on 10 th November at the AASLD 2019 conference (70 th American Association for t he Study of the Liver Diseases). In addition, the Phase 2a clinical study in patients with late stage NASH with world’s first cell therapy was initiated in May 2019. MEDIPAL will support Promethera ® in the commercialization of its products in Japan through the subscription to a private placement of new shares on March 20 th, 2019, with the aim to expand the products it handles in the regenerative medicine field going forward.
The purpose of this alliance is to further deepen the cooperative relationship between the two companies by providing access to MEDIPAL’s know-how and capabilities in the distribution of cellular medicines at ultra-low temperatures. MEDIPAL will support Promethera ® ’s clinical trials and aims to provide a steady supply after its product launch.
“With about 430 cases per year, the percent of patients receiving a liver transplant in Japan is significantly lower than in the US, where some 8,000 patients receive a transplant every year. Rescue solutions for Japanese patients with fatal liver diseases are performing poorly too. An even closer partnership with MEDIPAL will support us in setting up clinical trials in Japan that could positively impact and contribute to a solution for this considerable medical need in Japan. Building on this partnership, we will accelerate the clinical development of HepaStem™ towards a subsequent market launch in Japan, which will be a meaningful new development for Japanese patients suffering from end-stage liver disease,” said Dr John Tchelingerian, President and CEO of Promethera ®. “Mastering the entire supply chain is a key requirement for an off-the-shelf allogeneic cell therapy product, and MEDIPAL’s expertise and capabilities in this sector will be very valuable in this regard.”
“Promethera ® ’s HepaStem™ program can potentially become the world’s first therapeutic product using liver stem cells for the treatment of severe liver diseases,” commented Shuichi Watanabe, Chief Executive Officer of MEDIPAL. “Liver disease prevalence is rising in Japan and around the world due to an increase in obesity and other metabolic syndromes. The need to deliver effective treatments such as Promethera ® ’s is expected to augment rapidly. MEDIPAL’s system enables strict temperature management and traceability by using SDDU (Specialty Drug Distribution Unit: a liquid nitrogen-based ultra-low cold chain system for drug distribution) and has an extensive expertise in this field. We are very pleased with this partnership and the opportunity to support the development and the logistics of this innovative product candidate with our capabilities.”
About MEDIPAL HOLDINGS CORPORATION
2-7-15, Yaesu Chuo-ku Tokyo 104-8461 Japan
Shuichi Watanabe, Representative Director, President and CEO
As a holding company, MEDIPAL controls, administers and supports the operating activities of companies in which it holds shares in the Prescription Pharmaceutical Wholesale Business; the Cosmetics, Daily Necessities and OTC Pharmaceutical Wholesale Business; and the Animal Health Products and Food Processing Raw Materials Wholesale Business, and conducts business development for the MEDIPAL Group.
About Promethera®Biosciences S.A.
Watson & Crick Hill, Rue Granbonpré, 11 B-1435 Mont-Saint-Guibert, Belgium
John Tchelingerian, PhD, President & CEO
Promethera ® Biosciences is a global innovator in liver therapeutics whose mission is to bring patients life-saving treatments to reduce the need for liver transplantation. Promethera ® develops and manufactures allogeneic cell-based medicines for liver diseases by using regenerative medicine technology.
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CONTACT: Promethera® Biosciences SA
Web:www.promethera.com MEDIPAL HOLDINGS CORPORATION:
Corporate Planning and Public Relations
Mario Brkulj or Shai Biran, Ph.D.
+49 89 2420 9345 or +1 781-235-3060
KEYWORD: BELGIUM EUROPE JAPAN ASIA PACIFIC
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PUB: 11/12/2019 01:00 AM/DISC: 11/12/2019 01:00 AM