Italfarmaco Group and Luye Pharma announced today that they entered into a commercialization agreement for Rivastigmine MD.
Under the agreement, Milan, Italy-based Italfarmco receives exclusive rights to commercialize the Rivastigmine multi-day transdermal patch in four European companies, according to a news release.
Italfarmaco gains the rights to commercialize in Germany, Italy, Portugal and Greece under the agreement, while it will also have a preferred right to market Rivastigmine MD in Chile and Vietnam. The company will make an upfront payment to Luye Pharma upon signing, with additional milestone payments and potential royalties.
Basel, Switzerland-based Luye Pharma developed the Rivastigmine MD to treat mild to moderate dementia associated with Alzheimer’s disease.
Rivastigmine MD is a twice-weekly transdermal patch formulation of the treatment which can improve cognitive functions such as memory and thinking by increasing the amount of a natural substance in the brain and amplifying the communication channels between nerve cells. The drug is currently available in tablet and patch form.
The patch has a lower application frequency than the once-daily patches generally available in the market, offering improvements to medication adherence. The transdermal route of delivery is designed for patients who have difficulty swallowing, while it may have the potential to lower the incidence of gastrointestinal adverse reactions to an oral form.
Rivastigmine MD will be registered in major global markets, including Europe, Japan and China, the companies said, as it has been accepted for review by the European Union and was previously approved for clinical trials in China. Additionally, earlier this year, Luye granted exclusive development and commercialization rights in Japan to Towa Pharmaceutical. Luye also plans to register the device in the U.S., among other countries.
“Alzheimer’s is a debilitating disease with a growing patient population and very few treatment options, so we welcome our partnership with Luye Pharma and the addition of an easy-to-administer, innovative product for patients,” Italfarmaco VP of business & portfolio development Antonio Nardi said in the news release. “In addition to our own research expertise, we are looking forward to building our neurology-focused commercial pipeline in this therapeutic area to provide more options for clinicians who are at the frontline of treating individuals with neurodegenerative diseases.”
“The collaboration with Italfarmaco represents an important milestone in our commitment to addressing unmet needs for senior patients in Europe. By leveraging Italfarmaco’s extensive CNS experience and strong business operation system, we believe we will soon be able to bring this new therapy to patients in Europe,” Luye GM Bruno Delie added. “We aim to improve the quality of life for people suffering from dementia, as well as their families, friends and caregivers.”