Portfolio Company News
NewBridge Pharmaceuticals Announces Exclusive Licensing of Clasteon and Gliconorm for Middle East, Africa, Turkey and Caspian RegionsNovember 25, 2008
San Francisco, November 25, 2008: NewBridge Pharmaceuticals, a specialty pharmaceutical, biologics, and medical device company serving the Middle East, Africa, Turkey & Caspian regions announced today that it has acquired the rights from Abiogen Pharma of Italy to commercialize two pharmaceutical products, Clasteon™ and Gliconorm™.
Developed by Abiogen Pharma, Clasteon (disodium clodronate) is a bisphosphonate, which treats problems associated with bone metastasis. Clasteon helps to reduce bone metastasis as well as fractures associated with bone tumors in addition to decreasing related pain and hypercalcemia.
Gliconorm is a film-coated, divisible tablet which contains gliblenclamide (5 mg) and metformin (500 mg). It is a second line therapy used to treat non-insulin dependent diabetes that cannot be satisfactorily controlled with diet alone, diet plus a sulfonylurea, or diet plus metformin. The two components of Gliconorm work synergistically to decrease the required doses of the individual components. This helps reduce potential side effects experienced by afflicted patients. Additionally, by combining two drugs in one tablet, the need to take two separate tablets is eliminated, thereby increasing patient compliance.
“Diabetes and oncology are core areas of expertise for NewBridge and as such, we are excited to be working with one of the leading metabolic disease firms in the world to make two top quality products available in these under served markets," said Dr. Garrett Vygantas, Interim CEO of NewBridge Pharmaceuticals. “These products will be rapidly followed by others in our pipeline and will help establish NewBridge as the most reliable partner for companies seeking access for their medical products to these fast growing markets.”
About Abiogen Pharma
Abiogen Pharma (http://www.abiogen.it) is a private Italian pharmaceutical company, founded in Pisa in 1997, involved in R&D, manufacturing and marketing. Abiogen has a prestigious R&D pipeline, has demonstrated significant skills in innovative compound development and is now broadening into the biotechnological field. Abiogen's research with osteo-articular metabolism led to the marketing of four bisphosphonates and established Abiogen Pharma as a unique worldwide company.
About NewBridge Pharmaceuticals
NewBridge Pharmaceuticals (www.nbpharma.com) specializes in providing innovative healthcare products to the Middle East, Africa, Turkey and Caspian Regions. NewBridge’s regional regulatory capabilities and focused sales and marketing expertise provide biotechnology and pharmaceutical companies with a local partner to commercialize cutting-edge FDA and EMEA-approved therapeutic products. NewBridge will initially focus on the licensing and commercialization of high-value products for diseases with sharply rising regional incidence and prevalence such as diabetes, obesity, cardiovascular and oncologic diseases.Back to News list
For more information please contact:
Alberto Bresci, R&D and Market Economics Director
+39 (050) 3154344
G. Garrett Vygantas, M.D, Chief Executive Officer
+1 (415) 591-5483