Phosphagenics Expands License Agreement for TPM®/Diclofenac Gel...

Phosphagenics Expands License Agreement for TPM®/Diclofenac Gel

18 May 2016,
Melbourne: Australian biotechnology company, Phosphagenics Limited (ASX: POH; OTCQX: PPGNY), today announced that it has expanded its existing agreement with Themis Medicare Limited for its TPM®/Diclofenac gel, to include an additional 16 geographical markets.

Under the original agreement signed in 2011, Themis was granted exclusive rights to TPM®/Diclofenac gel in India alone.
The expanded agreement provides Themis with territorial rights to the TPM®/Diclofenac gel in 16 additional markets across three continents, including Armenia, Belarus, Georgia, Kazakhstan, Kenya, Kyrgyzstan, Moldova, Philippines, Rwanda, Sri Lanka, Tanzania, Turkmenistan, Uganda, Ukraine, Uzbekistan and Vietnam.

Under the terms of the amended agreement, Themis will pay Phosphagenics an undisclosed upfront fee and additionally royalty payments on sales in line with those specified in the original agreement.

Themis expects to apply for marketing authorisations to launch the product in these markets over the next few years.
Dr Alex Stojanovic, Phosphagenics’ VP of Business Development, said “Themis has been an enthusiastic partner during the past several years, and has gained valuable experience with commercialising TPM®/Diclofenac gel in India.

We look forward to working with Themis to increase the revenue potential of this product as we build a substantially increased geographic footprint.”

In 2014 Themis launched the product under the brand name, Instanac® TPM gel, while Novartis launched the same product under the brand name, Voveran® TPM gel.

Phosphagenics’ CEO and Managing Director, Dr Ross Murdoch, added, “Our TPM®/Diclofenac gel has been well accepted by physicians and patients in the Indian market and creates a solid blueprint for expansion into new markets.

Phosphagenics will be working closely with Themis Medicare to understand how to do so in the best possible mutually beneficial and timely manner.”

TPM®/Diclofenac gel is a topical non-steroidal anti-inflammatory drug indicated for the treatment of pain and inflammation of the muscles and joints caused by osteoarthritis, soft tissue rheumatism, and injuries such as sprains and strains.

Phosphagenics was advised on this licensing transaction by Aagami Inc.