The Immune Pharmaceuticals Inc (NASDAQ:IMNP) has agreed to sign a letter of intent with Pint Pharma in regard to an exclusive license by Pint for the rights to commercialize Ceplene across the whole of Latin America region.
The Immune Pharma and Pint are anticipated to finalize the agreement within a month. According to the agreement, Pint will carry the full responsibility of registering the Ceplene centers in Latic American countries, that is, Mexico, Chile, Colombia, Brazil, and Argentina. The registration process will base on the current European marketing authorization. Also, the company will be liable for the commercialization of the licensed product in the region. This will cover various operational activities such as the Ceplene registration, the sales and marketing actions, and pricing and reimbursement.
In addition, Pint will invest $4 million into Immune Pharma’s oncology subsidiary, the Cytovia, which will be used to exclusively for oncology cases. The Ceplene drug was first approved in Europe as a key treatment option for patients suffering from acute myeloid leukemia condition. The partnership between the two companies will come as a relief to many patients who require oncology related services in Latin America. According to David Munoz, the CEO of Pint Pharma, the Ceplene product from Immune will increase their coverage in the oncology field across the region.
According to Pint, there are more than 10,000 new cases of Acute Myeloid Leukemia (AML) which are detected every year in Latin America. Unfortunately, there is no approved treatment available for treating and controlling the remission. The launch of the Ceplene/IL-2 in the region will allow the patients to access the needed drugs for immunotherapy.
The agreement will leverage the high demands for the declined preventive measures of immunotherapy for patients with acute conditions of AML. The patients are usually given the chemotherapeutic drugs at the initial stages of the diagnosis which clears the traces of the condition. But patients don’t get healed well. Adding the Ceplene drugs could be the lasting solution for the condition. The market shares of the Immune Pharma gained incredibly after the announcements were made about the partnership plans.