(MENAFN- Vistar Communications) Abu Dhabi based pharmaceutical manufacturer Neopharma and US based Elevar Therapeutics entered into an agreement to establish a joint venture in UAE with 50:50 partnership. The company plans to establish a specific sales network for Rivoceranib, a targeted anticancer drug and conduct clinical trials for other pipeline candidates. Neopharma a global pharmaceutical company will undertake commercializing responsibility through its presence in various countries of MENA & India.
Suresh Kumar Nandiraju, Chief Operating Officer of Neopharma said, “This joint venture is an embarking step to critical care complex oncology candidates and symbolizes our commitment towards addressing unmet treatment needs of patients. We are very keen on expanding our immuno-oncology portfolio and Rivoceranib along with other pipeline molecules would strengthen our product offerings globally with a commitment to offer better life for patient.”
Rivoceranib is the first successful small-molecule angiogenesis inhibitor in gastric cancer. Rivoceranib acts by inhibiting angiogenesis, a critical process in cancer growth and proliferation. Specifically, Rivoceranib selectively inhibits VEGFR-2 which mediates the primary pathway for tumor-mediated angiogenesis. Rivoceranib has been clinically tested in over 1,000 patients worldwide and has demonstrated efficacy in numerous cancers including gastric cancer, CRC, HCC, NSCLC, esophageal cancer, thyroid cancer, mesothelioma, and neuroendocrine tumors.
About Neopharma: Neopharma LLC UAE, is one of the largest pharmaceutical companies in MENA region with 100% subsidiaries in USA, Japan, Brazil, UK and India. A vertically integrated business, comprising of Key intermediaries, API, R&D and Formulation facilities in regulated and emerging markets. Our global presence is supported by 10 manufacturing facilities spread across 3 continents delivering a wide range of branded & generic formulations, and active pharmaceutical ingredients (APIs). The therapeutic segments covered are acute and chronic therapies and having strong foot hold in anti-infective segment. Neopharma is primarily focusing on novel therapeutics, increasing portfolio depth and debilitating diseases at affordable prices. For further information please visit: www.neopharma.com
About Elevar Therapeutics: Elevar Therapeutics, is a privately held pharmaceutical company based in Salt Lake City, Utah with offices in South San Francisco, USA, which is owned by HLB, a listed company in South Korea. Elevar Therapeutics specializes in clinical development of promising therapies for unmet medical needs in cancer. Elevar Therapeutics is developing two proprietary drug and working on multiple early stage candidates. For further information please visit: www.elevartherapeutics.com
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