CROSSJECT enters into partnering agreement with Sayre Therapeutics to commercialize ZENEO® Methotrexate in India
Chenôve (France) and Bangalore (India), September 14 2015 - CROSSJECT (ISIN : FR0011716265 ; Mnémo : ALCJ) , the creator of ZENEO®, a needle-free injection system developed to be used with a portfolio of well-known drugs announces today a partnering agreement with Sayre Therapeutics to commercialise ZENEO® Methotrexate in India. The filing of the marketing authorisation files of this innovative product for the treatment of rheumatoid arthritis in the region, is anticipated early 2017.
The agreement provides Sayre Therapeutics with exclusive distribution and marketing rights in India, Bangladesh, Sri Lanka and Nepal. In return, CROSSJECT will receive a share from 20% to 40% of the revenues generated from the product. Sayre Therapeutics has committed to minimum levels of volumes and marketing investment.
Patrick Alexandre, CROSSJECT's founder and CEO said: "The Indian market has been chosen due to the pricing environment which will allow us to generate attractive returns. This is a high margin niche market thanks to the free pricing mechanisms in this area. This deal will allow us to capture value from ZENEO® without any further investments. It also allows us to continue to focus our commercial strategy on North America and Europe. We are convinced that Sayre Therapeutics with its entrepreneurial spirit, experienced team, including its sales force, has all the attributes needed to successfully commercialise ZENEO® Methotrexate."
A spokesperson for Sayre Therapeutics comments: "This collaboration with CROSSJECT will further reinforce our product portfolio, particularly for the home care market. Sayre Therapeutics is now well established through the Indian subcontinent and South Asia, and we are now ready to focus on chronic diseases such as rheumatoid arthritis by providing patients with a needle-free injection system that is easy and safe to use."
About Crossject · www.crossject.com
Crossject is using its world-leading needle-free injection system, ZENEO(TM) to develop an attractive pipeline of high-value SUPERGENERICS or New Therapeutics Entities. These needle-free products, which are based on well-known injectable drugs (chemicals & biologics), are designed to enhance patient safety, compliance and comfort.
Crossject's needle-free, pre-filled, single-use ZENEO (TM) injection systems are unique in that they can be tailored to deliver drugs intradermally, subcutaneously and intramuscularly. This means that ZENEO(TM) can allow a wide range of drugs and vaccines for a broad range of indications to be developed and approved in a very short period. Outside its own portfolio of SUPERGENERICS, Crossject anticipates partnering ZENEO with other pharma/biotech looking to improve the life cycle management of their key drugs or biologics.
CROSSJECT is listed on Alternext Paris (Mnemo : ALCJ, ISIN : FR0011716265)
About Sayre Therapeutics
Sayre Therapeutics is specialized in innovative treatments and medical devices commercialization in South Asia. The company has been created by Shukrit Sudhir Chimote and Vandana Subramanian the co-founders of Biocon. The founders experience and its dynamic team have allowed Sayre to rapidly develop its product portfolio.
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Contacts
Patrick Alexandre / Timothée Muller
info@crossject.com
Citigate Dewe Rogerson
Laurence Bault /Lucie Larguier
+33 (0)1 53 32 84 78 / 84 75
laurence.bault@citigate.fr
lucie.larguier@citigate.fr
