m8 Pharmaceuticals and Daewoong Pharmaceuticals Signed an Exclusive Licensing Agreement for Fexuprazan(TM) in Mexico
BERWIN, Pa., Feb. 11, 2020 /PRNewswire/ -- m8 Pharmaceuticals and Daewoong Pharmaceuticals announced they have signed an exclusive licensing agreement whereby m8 will have the rights to commercialize and promote Fexuprazan(TM) in the Mexican market. The new drug Fexuprazan is a potassium-competitive acid blocker (P-CAB). P-CABs are regarded as the next-generation treatments to replace proton pump inhibitors (PPI), often used for gastroesophageal reflux disease (GERD). Although PPIs have a strong effect in inhibiting gastric acid secretion, they are often slow-acting. They also have drug interaction problems and affect mealtime. P-CAB medicines can overcome the disadvantages of PPIs. Based on the current and future clinical data that Daewoong expects for Fexuprazan(TM), it has the potential to become the best-in-class drug in its category.
Based on the results from a recent national survey (SIGAME), it was found that in an open Mexican population, according to the Rome III criteria, the frequency of heartburn or regurgitation at least once a week is 12.1% (95% CI, 11.09 to 13.1), it is 1.2% (95% CI, .09 to 1.3) in those that present with symptoms daily, and it is 49.1% (95% CI, 47.5 to 50.6) in those that present with symptoms at least once a month (Table 2). That study concludes that GERD is a disease with a high prevalence in Mexico.(1)
m8 Pharmaceuticals continues its commitment to bringing innovative products to the Latin American region, and this agreement reinforces its commitment and capabilities in the area of gastroenterology, further contributing to the treatment of GERD in the region.
"We are committed to work closely with Daewoong to provide Mexican patients with an innovative solution for the treatment of GERD" said Joel Barlan, m8's CEO. "We are delighted to have partnered with a very trusted and enterprising pharmaceutical company in Mexico. Daewoong will do its best to work closely with m8 to present an innovative treatment paradigm in GERD to positively contribute to patients' lives." said CEO Sengho Jeon.
About Daewoong
Established in 1945, Daewoong Pharmaceutical Co., Ltd. has the largest prescription drug sales in Korea and envisions itself to become a top 50 global healthcare company by 2020. In addition to its product portfolio, which includes 15 blockbuster products, Daewoong has built strong core competency for new drug development and has cultivated a cooperative culture for collaboration with global partners.
About m8
m8 Pharmaceutical (formerly moksha8) is a specialty pharmaceutical company focused on licensing, marketing and distributing innovative and established therapeutics in the two largest Latin America markets: Brazil and Mexico. m8 is a Montreux Equity Partners portfolio company.
About Montreux
Montreux Equity Partners is a private investment firm focused on making growth capital investments in the leading companies of tomorrow. Its portfolio companies address the most compelling trends in global health. The firm is currently investing out of its sixth fund.
(1)Diagnosis and treatment of gastroesophageal reflux disease: recommendations of the Asociación Mexicana de Gastroenterología
For more information please contact:
Joel Barlan
Chief Executive Officer
T: +52 (55) 4431 2933
us.wm@moksha8.com
Rafael Ferrer
Vice President of Corporate Development
T: +1 (305) 299 6998
Rafael.ferrer@moksha8.com
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SOURCE m8
