Navamedic ASA - Exclusive agreement with Vectans Pharma for the unique cold sore treatment product Sitavig®
OSLO, Norway, Aug. 4, 2022 /PRNewswire/ -- Navamedic has signed an agreement with the French pharmaceutical company Vectans Pharma, which gives Navamedic the exclusive right to market and sell an innovative and unique muco-adhesive buccal tablet for single-dose treatment of cold sores (herpes labialis) in the Nordic and Benelux regions. This entitles Navamedic to the ownership of the marketing authorizations for the product in these regions.
"This acquisition is a great example of how we can utilize our strong presence and in-depth competence in our markets to broaden our portfolio through partnerships with international pharma companies and introduce attractive products to the benefit of end-users. It is a key element of our value creation strategy to secure and increase value creation through ownership of products and exclusive marketing rights," says Kathrine Gamborg Andreassen, CEO of Navamedic ASA.
The product is currently marketed as a prescription drug in the US and South Korea but is now in transition to becoming a non-prescription or "Over the Counter (OTC)" drug in many markets. It has already been approved as OTC drug in France and Italy and applications are currently in progress in many European countries.
Cold sores - also called fever blisters - is a common and recurring condition that affects about 20 - 40% of the population. It is caused by the herpes simplex virus and the outbreaks are often triggered by another illness, sunshine exposure, or menstrual periods. During outbreaks, the sores are contagious from the first moment of tingling and can spread from person to person by close contact.
The transfer of the marketing authorizations will take place subsequent to the OTC approval in each country. Navamedic expects the first commercial sale in the Nordics and Benelux to take place in the first half of 2024.
"We are delighted to collaborate with Navamedic and to initiate our partnership together. We firmly believe that Sitavig® has the potential to become the `best-in-disease' medicine for cold sores in the Nordic and Benelux regions, offering a new innovative treatment to patients in need. This partnership is an important step in our development plan and reinforces our international strategy," says Jérôme Théron, co-founder and CEO of Vectans Pharma.
Sitavig® (acyclovir) is a 50mg Muco-Adhesive Buccal tablet that represents a breakthrough in the treatment of cold sores. Sitavig® is a unique single-dose treatment that is placed under the patient's lip and works by delivering a concentrated dose of acyclovir that stays localized at the site of viral replication in the mouth.
For further information, please contact:
Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47 951 78680
Lars Hjarrand, CFO, Navamedic
Mobile: +47 917 62842
About Navamedic ASA:
Navamedic ASA is a Nordic pharma company and reliable provider of high-quality products, delivered to hospitals and through pharmacies, meeting the specific needs of patients and consumers by leveraging its highly scalable market access platform, leading category competence and local knowledge. Navamedic is present in all the Nordic countries, the Baltics and Benelux, with sales representation in the UK and Greece. Navamedic is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (ticker: NAVA).
For more information, please visit www.navamedic.com
About Vectans Pharma:
"Vectans Pharma is a French pharmaceutical company with an international reach, specialized in the development of muco-adhesive drugs, and offering new therapeutic perspectives to the pharmaceutical industry. Thanks to its innovative platform, Lauriad®, our company ensures the development of new drugs and, with its international partners, the commercialization of Sitavig® and Loramyc® worldwide. Vectans Pharma delivers life-changing treatments, respectful of both humans and the environment, that improve patient access and experience around the world."
For more information about Vectans Pharma, please visit https://www.vectanspharma.com/
This information was brought to you by Cision http://news.cision.com
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