Elevar Therapeutics and Neopharma establish a JV for the Commercialization of Rivoceranib in MENA and India
October 3, 2019
SALT LAKE CITY, USA. Elevar Therapeutics and Abu Dhabi-based Neopharma have entered into an agreement to establish a joint venture in the United Arab Emirates. The 50:50 venture is planned to undertake a broad range of development and commercialization activities for rivoceranib in the Middle East, North Africa, and India.
“We are excited to kick off this partnership with Neopharma,” said Alex Kim, Elevar Therapeutics’ CEO, “the JV will benefit greatly from the Neopharma’s vast sales network in the MENA region, fully integrated manufacturing, and broad development expertise.”
About Rivoceranib (Apatinib)
Rivoceranib is the first successful small-molecule angiogenesis inhibitor in gastric cancer. Rivoceranib acts by inhibiting angiogenesis, a critical process in cancer growth and proliferation. Specifically, rivoceranib selectively inhibits VEGFR-2 which mediates the primary pathway for tumor-mediated angiogenesis. It was approved in China (advanced gastric cancer, Dec 2014) where it is marketed by the Chinese-territory license-holder Jiangsu Hengrui Medicine Co., Ltd. Elevar Therapeutics holds the global rights (ex-China). The Company has completed a global (12 countries across Asia, US, and Europe) Phase 3 clinical trial of rivoceranib in advanced or metastatic gastric/gastroesophageal junction cancer patients (“ANGEL study”). Elevar Therapeutics is also developing rivoceranib for the treatment of patients with earlier lines of gastric cancer, colorectal cancer, hepatocellular carcinoma, and adenoid cystic carcinoma. Rivoceranib has been clinically tested in over 1,000 patients worldwide and has demonstrated efficacy in numerous cancers including gastric cancer, CRC, HCC, NSCLC, esophageal cancer, thyroid cancer, mesothelioma, and neuroendocrine tumors. It has also shown potential to significantly improve clinical outcomes in combination with chemotherapeutics and immunotherapy, as well as for maintenance therapy. Elevar Therapeutics has received notification designating rivoceranib as an orphan medicinal product for the treatment of gastric cancer from the European Commission in the European Union, the US FDA, as well as the MFDS in South Korea. The Company plans to meet with US FDA on October 24, 2019 to receive advice on regulatory submissions for monotherapy gastric cancer treatment.
About Elevar Therapeutics
Elevar Therapeutics (formerly LSK BioPharma) is a privately held biopharmaceutical company with offices in Utah, California, and South Korea. The Company aims to provide patients and their caregivers with exceptional choices for effective and well-tolerated therapies. Elevar Therapeutics’ lead proprietary drug candidate is rivoceranib, a selective VEGFR-2 inhibitor which has demonstrated clinical efficacy in a variety of solid tumors. Elevar Therapeutics can be found on the web at www.elevartherapeutics.com.
Neopharma LLC UAE, is one of the largest pharmaceutical companies in MENA region with 100% subsidiaries in USA, Japan, Brazil, UK and India. A vertically integrated business, comprising of Key intermediaries, API, R&D and Formulation facilities in regulated and emerging markets. Our global presence is supported by 10 manufacturing facilities spread across 3 continents delivering a wide range of branded & generic formulations, and active pharmaceutical ingredients (APIs). The therapeutic segments covered are acute and chronic therapies and having strong foot hold in anti-infective segment. Neopharma is primarily focusing on novel therapeutics, increasing portfolio depth and debilitating diseases at affordable prices. For further information please visit: www.neopharma.com