Portfolio Company News
NewBridge Pharmaceuticals Announces Licensing of Sancuso®November 06, 2008
San Francisco, November 6, 2008: NewBridge Pharmaceuticals, a specialty pharmaceutical, biologics, and medical device company serving the Middle East, Africa, Turkey & Caspian regions today announced an exclusive licence and supply agreement with Galashiels, Scotland-based ProStrakan for Sancuso®, a novel, first-in-class, patent protected transdermal patch for the prevention of chemotherapy-induced nausea and vomiting (CINV), for the Middle East and Africa.
Sancuso®, which was developed by ProStrakan over the last five years, is a transdermal patch system that delivers granisetron, an established 5HT3 receptor antagonist, steadily into the bloodstream for up to seven days. Sancuso® has been clinically proven to be as effective as oral granisetron in preventing the side effects of nausea and vomiting in patients undergoing chemotherapy. Sancuso has the advantage of offering this protection through a single transdermal patch application, eradicating the need for repeated daily injections, or having to swallow multiple pills on a repeated daily basis. Sancuso® received FDA approval in September 2008.
"In partnering with ProStrakan for the Sancuso transdermal system, NewBridge Pharmaceuticals advances further to become one of the key providers of innovative pharmaceutical care to the oncology market in the Middle East and Africa" said Dr. Garrett Vygantas, Interim CEO of NewBridge Pharmaceuticals. “NewBridge’s strategy of providing world-class sales and marketing support for our innovative products allows patients and physicians across the region access to best-in-class therapeutics, devices, medical education and support.”
Commenting on today’s announcement, Dr Wilson Totten, ProStrakan’s Chief Executive, said: “While ProStrakan’s core markets are Europe and the US, we continue to seek out opportunities to create a revenue stream from our products in territories that are non-core, yet likely to be lucrative, for us. Our partnership with NewBridge will potentially allow Sancuso® to be made available for millions of cancer patients across the Middle East and Africa in order that they too may be relieved of the often distressing effects of chemotherapy-induced nausea and vomiting.”
About NewBridge Pharmaceuticals
NewBridge Pharmaceuticals (www.nbpharma.com) is a specialty pharmaceutical, biologics, and medical device company serving the Middle East, Africa, Turkey, and Caspian regions to address the unmet needs of diseases with high regional prevalence such as diabetes, obesity, oncology, cardiovascular diseases and other metabolic disorders. NewBridge in-licenses and commercializes FDA and EMEA approved therapeutics and devices. Headquartered in UAE with Business Development in the US, NewBridge was founded in 2007 by Burrill & Company, a San Francisco-based Life Science Venture Capital, Private Equity, Merchant Banking and Media firm. NewBridge Pharmaceuticals is uniquely positioned as the partner of choice for pharmaceutical, biotechnology and device companies seeking to capture value from their products in these high growth emerging markets.
ProStrakan Group plc (www.prostrakan.com) is a rapidly growing specialty pharmaceutical company engaged in the development and commercialization of prescription medicines for the treatment of unmet therapeutic needs in major markets. ProStrakan's head office is situated in Galashiels in Scotland. The company’s development capabilities are centered on Galashiels and Bedminster, New Jersey, USA. Sales and marketing of ProStrakan's portfolio of products are handled by commercial subsidiaries in the UK, US, France, Germany, Spain and other EU countries.
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