Martinsried/Munich, 8 April 2014. Medigene AG (Frankfurt, Prime Standard) and the pharmaceutical company Kora Healthcare concluded an exclusive agreement for the supply and commercialisation of Veregen® for the treatment of genital warts in United Kingdom and Ireland. Following marketing authorisation, Kora Healthcare will promote and distribute the drug for the treatment of genital warts. Medigene will receive a one-time upfront payment, revenues from milestone payments and from the supply of the finished product, as well as royalties on the future sales of Veregen® in the two countries.
Dr. Frank Mathias, Chief Executive Officer of Medigene AG, comments: "We are glad that we will now be able to open up the two important pharma markets, the United Kingdom and Ireland, with this marketing partnership. Kora Healthcare is a renowned pharmaceutical company in the field of sexual health, and will approach all relevant target groups with the drug. We have now established sales networks for Veregen® in all European countries."
Margaret Larkin, Chief Executive Officer of Kora Healthcare, adds: "This novel ointment for the topical treatment of genital warts complements our product portfolio in Sexual Health and strengthens our competitive position. We look forward to having an innovative product like Veregen® to offer to our customers for the treatment of genital warts."
Veregen® is currently available in the USA, Germany, Austria, Switzerland, Spain, Serbia, the Netherlands, Taiwan, Norway, Sweden, Czech Republic and Slovakia. Marketing authorisations in numerous additional countries have been granted. Medigene has entered into several marketing partnerships for Veregen® across Europe, Asia, and America, and is planning to continue this global licensing strategy to further tap the drug`s market potential. Submission of the marketing authorisation application for Veregen® in United Kingdom and Ireland as well as several remaining European countries participating in the mutual recognition procedure is planned for 2014.
About Veregen®: Veregen®, a topical treatment for external genital or perianal warts, contains a concentrate of catechins with a complex defined composition extracted from green tea leaves. In its current treatment guidelines for sexually transmitted diseases, the US Center for Disease Control and Prevention recommends Sinecatechins 15% ointment (Veregen®) as a possible option for treating genital warts. In addition, Sinecatechins 10% & 15% ointment (Veregen®) has been included in the current European guideline on the treatment of genital warts, the 2012 European Guideline for the Management of Anogenital Warts