Xbrane has acquired the Italian based Primm Pharma and completed a distribution deal with the Iranian company Pooyesh Darou.
Xbrane is a commercial phase Swedish biopharmaceutical company specialized in High Demand Complex Generics. Primm Pharma specializes in the development and production of pharmaceutical formulations for slow release injections and has a portfolio currently consisting of five slow release biogeneric candidates. The lead product, Spherotide, will primarily be used for the treatment of prostate cancer and endometriosis and will be available in emerging markets from mid 2017.
“Through the acquisition of Primm Pharma we are able to broaden our expertise within the field of High Demand Complex Biogenerics. Primm Pharma has unique expertise in microsphere-based drugs and a lead product Spherotide that we believe will become the world’s first slow-release biogeneric for a sizable prostate cancer drug,” commented Martin Åmark, CEO of Xbrane Biopharmaceuticals.
The Primm Pharma acquisition extends Xbrane’s current portfolio to 8 development candidates. It reflects the company’s mission to bring affordable biogeneric versions of the latest biological drugs to patients suffering from critical diseases in underserved markets. Xbrane estimates the initial value of this market for its portfolio alone to be around USD 10 billion and, as a first step, earlier this month signed an agreement with Pooyesh Darou for the introduction of Spherotide into the Iranian market.
“We are delighted to have signed this agreement and to get the opportunity to work with Pooyesh Darou, one of the leading biotech companies in the Middle East. Pooyesh Darou has an impressive track record of reaching near full penetration in Iran on all introduced biogeneric products. Iran is a very interesting market with a population of 80 million, of which more than 90 percent are covered by the publicly-funded healthcare and we see it as an ideal first market for our high demand complex biogenerics,” added Åmark.