ProStrakan announces Sancuso partner

ProStrakan has announced the signing of an exclusive distribution agreement for Sancuso with South Korean pharmaceutical firm LG Life Sciences.

According to the terms of the agreement, LG Life Sciences will pay ProStrakan initial and landmark payments up to a total of $6 million (2.97 million pounds) on the attainment of specified regulatory approvals and revenue targets.

Sancuso is a transdermal granisetron patch indicated for use in patients undergoing chemotherapy to prevent nausea and vomiting induced by the treatment.

ProStrakan recently announced that the patch – which delivers patients the 5-HT3 receptor antagonist granisetron – had exhibited successful results in a pivotal phase III clinical study.

Dr Wilson Totten, chief executive of ProStrakan, said: “In addition to building our own sales forces, we are growing a meaningful revenue stream from outlicensing our product portfolio in markets where we do not intend to build a direct commercial presence.”

He added that this deal with LG Life Sciences is an example of this strategy which would look to exploit the value of Sancuso worldwide through a partnership with a recognised firm to successfully commercialise the treatment in a key region.

Last month, ProStrakan announced the filing of a marketing authorisation application for Sancuso with the European regulatory authorities.