Switzerland’s THERAMetrics holding (SIX: TMX) and Turkish drugmaker Centurion Pharma plan to cooperate in the development and registration of aviptadil for the treatment of cystic fibrosis and sarcoidosis, and interferon gamma for the treatment of idiopathic pulmonary fibrosis.
Under the proposed terms, this collaboration is initially for Turkey and eventually in other neighboring markets. THERAMetrics is the patent holder on both products in the given indications and has adopted Orphan Medicinal Product Designations in the USA and Europe. The parties have committed to sign definitive agreements by December 2014.
ORPHAN DISEASES A $9 BILLION MARKET IN TURKEY
Raffaele Petrone, chief executive and chairman of THERAMetrics, said: “We are very pleased to join forces with one of the major players in the field of orphan diseases in the rapidly growing $9 billion Turkish pharmaceutical market, poised to be among the top 10 markets globally by 2020. We deem a partnership in this part of the world strategic for the commercialization of our portfolio, also considering that Turkey is a gateway for the development and commercialization of drugs for the MENA region and Central Asia.”
Ersin Erfa, executive board chairman and Alper Mengi, vice general manager of Centurion, added: “We are delighted to have access to one of the most exciting portfolios of rare disease drugs developed by a pioneer in this field like THERAMetrics. Turkey is one of the countries in the region with the highest incidence of rare diseases; in fact approximately 5 million Turkish patients suffer from orphan diseases. This has been recognized by the Turkish authorities which provide considerable incentives for R&D in the rare diseases area.”