PARIS--(BUSINESS WIRE)--Regulatory News:
Advicenne (Euronext Growth Paris ALDVI - FR0013296746) (Paris:ALDVI), a specialty pharmaceutical company dedicated to developing and commercializing innovative treatments for those suffering from rare renal diseases, is pleased to announce that it has signed an exclusive distribution agreement with Taïba Healthcare (“Taïba”), a leading pharmaceutical company based in Sultanate of Oman, for the commercialization of Sibnayal® in selected Middle-East countries (Kingdom of Saudi Arabia, United Arab of Emirates, Sultanate of Oman, Kuwait, Qatar and Bahrain).
The partnership with Taïba is the first Advicenne has signed for Sibnayal® outside of Europe. Under the terms of the agreement, Taiba has exclusive marketing rights to Sibnayal® in its indication of the territories defined in the contract. In return, Advicenne will receive the proceeds from the sale of Sibnayal® in the form of a transfer price and royalties for a combined amount significantly greater than 50% of future sales. Taiba is currently working on an early access program for Sibnayal® in the contract territories. Taïba and Advicenne will be responsible for the registration of products locally based on the registration dossier file that enabled the marketing authorization in Europe and the United Kingdom.
Following recent collaboration agreements with TwinPharma, ExCEEd Orphan and Frost Pharma in Europe, Advicenne is continuing to make its drug Sibnayal® as widely available as possible.
Didier Laurens, Chief Executive Officer of Advicenne, commented: “We are delighted with the signing of this agreement with Taiba Healthcare, regional leader in the marketing of products for rare diseases in the Gulf countries, where prevalence of distal Renal Tubular Acidosis is amongst the higher worldwide. This is the fourth agreement in a few months and the first one outside Europe, proof of our willingness to make Sibnayal® available to the largest number of patients and to meet a medical need that is still poorly covered.”
Saif Al Hasani, Chief Executive Officer of Taïba Healthcare stated: “We are proud to be partnering with Advicenne for the delivery of Sibnayal® to patients and improve the lives of those suffering from dRTA. We look forward to working with them and to be continuing to expand our product portfolio in areas of high unmet need.”
About Advicenne
Advicenne (Euronext: ALDVI) is a specialty pharmaceutical company founded in 2007, specializing in the development of innovative treatments in Nephrology. Its lead product SibnayalTM (ADV 7103) has received its Marketing Approval for distal renal tubular acidosis in EU and the UK. ADV 7103 is currently in late-stage development in cystinuria in Europe and in dRTA and cystinuria in the US and in Canada. Headquartered in Paris, Advicenne, listed on the Euronext Paris stock exchange since 2017, has now been listed on Euronext Growth Paris since its transfer on March 30, 2022. For additional information see: https://advicenne.com/.
About taiba
taiba is a leading specialty marketing, sales and distribution company in the MENA region, providing innovative treatments to patients suffering from orphan and rare diseases. taiba vision is to cover the unmet medical need in its region providing high quality products and high level of service to healthcare organizations and hospitals and commitment to patient treatment. taiba focus is addressing the needs of rare disease patients and providing them access to innovative medicines either through name patients sales or through commercialization.
Over the last fifteen years taiba has earned a reputation as a regional leading company in rare diseases and currently represents leading multinational companies pioneer in their fields such as Alnylam, Biomarin, Lucane, Veloxis, Insmed etc.
Disclaimer
This press release contains certain forward-looking statements concerning Advicenne group and its business, including its prospects and product candidate development. Such forward-looking statements are based on assumptions that Advicenne considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the 2021 Universal Registration Document filed with the French financial market authority on April 29, 2022 (a copy of which is available on www.advicenne.com) and to the development of economic conditions, financial markets and the markets in which Advicenne operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Advicenne or not currently considered material by Advicenne. The occurrence of all or part of such risks could cause actual results, financial conditions, performance, or achievements of Advicenne to be materially different from such forward-looking statements. Advicenne expressly declines any obligation to update such forward-looking statements.