Oslo, Norway, 22 May, 2015: Photocure ASA (OSE: PHO), a specialty pharmaceutical company focused on photodynamic technologies in dermatology and cancer, announces today the appointment of Juno Pharmaceuticals as their exclusive distributor for the registration and commercialization of Hexvix in Australia and New Zealand. Hexvix is Photocure's flagship product to aid in the diagnosis and management of bladder cancer.
Under the terms of the agreement, Photocure will receive €500,000 in milestone payments for the rights to Hexvix in the territory, of which Photocure has received €250,000.
Juno, who will fund all costs to secure regulatory approval, will begin the filing process immediately. During the review process, Juno Pharmaceuticals will initiate the preparations for the launch of Hexvix in Australia and New Zealand. The market potential in the territory is estimated to be similar to the potential in the Nordics, where Photocure commercializes Hexvix with its own sales team.
Kjetil Hestdal, President & CEO of Photocure, said: "We are happy to report that Hexvix commercialization is progressing well and we continue to expand into new territories to ensure patients and Urologists have access to the most optimal treatment for the diagnosis and management of bladder cancer. We are pleased to have secured Juno Pharmaceuticals as our new distribution partner in Australia and New Zealand with their strong and experienced team”.
For further information, please contact:
President & CEO Kjetil Hestdal
Tel: + 47 913 19 535, Email: email@example.com
CFO Erik Dahl
Tel: +47 50 55 000, Email: firstname.lastname@example.org
About Juno Pharmaceuticals
Juno Pharmaceuticals is a privately held global health care company dedicated to introducing a range of innovative pharmaceutical products. Juno Pharmaceuticals was founded in 2012 by a group of experienced international pharmaceutical executives and are a fast growing global specialty pharmaceutical company. Our product portfolio and pipeline covers a broad spectrum of therapeutic areas and formats including oral solid dosages, injectable, suspensions, ophthalmic solutions, creams and patches. With a primary focus on the hospital market channel, Juno has access to a range of presentations across multiple therapeutic areas including biosimilar products. An extensive global network of manufacturers allows us to source niche, lifesaving products for our customers. Juno operates in the Australian, Canadian, Polish and United Kingdom markets.