Licensing Opportunity
Fortacin™ was filed with the European Medicines Agency (EMA) in May 2012, and obtained a marketing authorization from the European Commission on 19 November 2013.
Plethora has signed various ‘out licence’ agreements with commercial strategic partners for China, the European Union, UK, CIS, certain countries in North Africa, Israel and select countries in South East Asia.
Fortacin™ (Senstend™ the marketing name in China) has been out licenced to Wanbang Pharmaceutical, a wholly controlled subsidiary of Shanghai Fosun Pharmaceutical, in respect of the rights to commercialise Senstend™ in China. The Phase 3 study has been successfully completed with all four co-primary endpoints being met and Wanbang Pharmaceutical is preparing the NDA for submission to the National Medical Products Administration in China in 2024. On approval, US$5 million shall be payable to Plethora. In addition, upon first commercial sale of Senstend™ in China, US$2 million shall also be payable to Plethora and thereafter a double-digit tiered royalties on net sales and commercial milestones shall be payable.
It is estimated that Senstend™ has the potential to help an initial target market of approximately 9 million patients in China in its first year of launch, growing to over 170 million patients by its tenth year. We have a strong partner in Wanbang Pharmaceutical, who benefits from being part of the Fosun network. This company has the marketing expertise, established e-commerce platforms and an unrivalled national distribution network of hospitals, clinics and pharmacies to help ensure the commercial success of Fortacin™ in China.
Plethora has also out licensed Fortacin™ to Oriental Europharma for Taiwan, Hong Kong, Macau, Singapore, Philippines, and other select territories in Southeast Asia. Plethora is entitled to a double-digit royalty on net sales and commercial milestones.
Llicensing and distribution opportunities for Fortacin™ are now available for the United States, Canada, Mexico, South America, Australia, New Zealand and other countries. For further information please contact:
E: licensing@plethorasolutions.co.uk
T: +44 20 3077 5400