Luye Pharma Switzerland AG and Towa Pharmaceutical Co., Ltd. Enters Strategic Collaboration to Develop and Commercialize Rivastigmine Multi-Day Transdermal Patch in Japan
February 17, 2021 at 10:24 pm EST
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Luye Pharma Group announced that its subsidiary Luye Pharma Switzerland AG has entered into an agreement with Towa Pharmaceutical Co., Ltd. (Towa), the terms of which grant Towa exclusive rights to the development and commercialization of Rivastigmine Multi-Day Transdermal Patch (Rivastigmine MD) in Japan. Developed by Luye Pharma and indicated for the treatment of Alzheimer's disease, Rivastigmine MD employs an innovative drug delivery system via twice-weekly transdermal administration. Luye Pharma has filed and been issued a portfolio of international patents protecting this product. Currently, Rivastigmine MD is in the registration phase in Europe, and is soon to start phase III clinical studies in Japan. According to the agreement, Luye Pharma has granted Towa the exclusive rights to develop and commercialize Rivastigmine MD in Japan. Towa will make an upfront payment to Luye Pharma upon the signing of the agreement, and will make milestone payments upon achievement of certain developmental, regulatory, and sales milestones. In addition, Towa will make royalty payments to Luye Pharma based on the sales of Rivastigmine MD.
Towa Pharmaceutical Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of pharmaceuticals. The main products are generic drugs, which are launched after the efficacy and safety of new drugs have been confirmed for a certain period of time. It is a drug with the same effect, usage and dosage. The Company is involved in the sale and outsourced manufacture of products and generic drugs. The Company is involved in the research and outsourced manufacture of active pharmaceutical ingredient and soft capsules. The Company is also involved in the planning, development, contract manufacturing of health foods, general foods, miscellaneous goods and others.
Luye Pharma Switzerland AG and Towa Pharmaceutical Co., Ltd. Enters Strategic Collaboration to Develop and Commercialize Rivastigmine Multi-Day Transdermal Patch in Japan