PharmaMar inks South America deal for cancer drug
Shares of Spanish drugmaker PharmaMar (MC: PHM) were up 6.67% at 1.60 euros ahead of market close today, after the company announced a major licensing agreement for it second most advanced anticancer drug, which is currently under development for the treatment of multiple myeloma and angioimmunoblastic T-cell lymphoma.
PharmaMar says it has signed a commercialization and distribution license agreement with privately-held Pint Pharma International, for the marine-derived anticancer drug Aplidin (plitidepsin) in Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay and Venezuela.
According to the agreement, Pint will pay undisclosed milestone and royalty payments to PharmaMar in exchange for the rights to register, commercialize and distribute Aplidin in each of the foresaid territories. PharmaMar will retain exclusive production rights and will supply the finished product for clinical and commercial use.
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