CrystalGenomics Partners with TR-Pharm

 

SEOUL, South Korea, Jan. 12, 2016 — CrystalGenomics, Inc. has announced that it has signed a License and Supply Agreement with TR-Pharm for the commercialization of Acelex® (polmacoxib) in Turkey and the Middle East and North Africa (MENA) region.

Under the terms of the agreement, TR-Pharm will secure exclusive rights to Turkey and 18 additional countries in the MENA region to sell and market Acelex 2mg capsule, a novel NSAID developed by CrystalGenomics for the treatment of osteoarthritis. CrystalGenomics will receive up to USD 12 million in License Fee for upfront and milestone payments from TR-Pharm and will also be entitled to receive royalty payments from the sales of Acelex, which is expected to rapidly capture a significant portion of the NSAID market within the rheumatology and orthopedic markets in the licensed region. Based on the current projections, it is anticipated that the cumulative sales of Acelex will reach USD 253 million in the licensed region over the course of the term of the Agreement.

 

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