“It's a pity that too big and valuable achievements are buried by COVID-19, but it will eventually show up.” – from all employees of HLB
Elevar acquires global rights to Apealea®
On March 25, Elevar signed a contract to transfer the global rights of the anticancer drug Apealea with Oasmia Pharmaceutical AB (Oasmia) in Sweden.
Apealea, which Osama succeeded in developing, was officially licensed for ovarian cancer treatment in Europe in January, and sales will begin in Europe starting in the second quarter, and this will be Elevar's anticancer drug sales under the rights transfer agreement.
The acquisition amount is up to $ 20 million in the upfront, and Elevar will have global rights excluding Russia and some countries in Northern Europe and Eastern Europe.
3rd generation incrementally modified paclitaxel drug “Apealea”
Apealea is a 3rd generation incrementally modified drug of paclitaxel and is an anticancer drug developed using Oasmia's proprietary technology platform 'XR17'.
There is no need for prior treatment before injecting the following drug, and the injection time is short, which increases patient convenience and minimizes side effects.
Paclitaxel, the drug that Apealea will compete with, is a first-generation cytotoxic anticancer drug that has been on sale for 28 years, expanding its indication to breast cancer, ovarian cancer, lung cancer, etc. since it was released as Taxol® from Bristol-Myers Squibb (BMS) in 1992. Considering the sales of Abraxane, the second-generation drug (USD1 Billion), Apealea is highly marketable and has a comparative advantage.
Sales in Western Europe & NDA
Apealea, licensed for sale in Europe, is currently available in Northern Europe and Russia.
Elevar plans to start selling in Germany, UK, and Switzerland from the second quarter through the network formed during the construction of Rivoceranib's European sales network.
Due to a pre-NDA meeting for FDA and Apealea in late April, Elevar will complete the New Drug Agreement (NDA) with the FDA this year and plan to launch it in the US starting next year.
We plan to promote L / O or partnership in Japan and China, and plan to sell in the Middle East through Neolevar.
Leap into a global anti-cancer drug company
HLB and Elevar will launch two global anticancer drugs starting next year. It is a step towards the aim of 'marketing five anticancer drugs within five years' that HLB has emphasized.
HLB will grow into a leading global anti-cancer drug biopharmaceutical company by possessing the best-in-class targeted anti-cancer drug, Rivoceranib, the next-generation immune cancer drug, immunotherapy vaccine from the Immunomic Therapeutics, and the third generation incrementally modified Paclitaxel drug, Apealea.
In the end, we will reward you with good results.