Xbrane signs Iranian deal for its lead complex biogeneric, Spherotide
Stockholm, Sweden – October 14th, 2015 – Xbrane, a commercial phase biopharmaceutical company specialized in High Demand Complex Generics, today announced that the company has signed a distribution deal for its lead biogeneric Spherotide with the Iranian biopharmaceutical company Pooyesh Darou.
Spherotide is a biogeneric version of the Decapeptyl containing the active substance triptorelin and is used primarily in the treatment of prostate cancer. Each year more than 1.1 million people are diagnosed with prostate cancer globally and the prevalence of the disease is expected to increase continuously for the foreseeable future.
“We are pleased to have signed this agreement and to get the opportunity to work with Pooyesh Darou, one of the leading biotech companies in the Middle East. Pooyesh Darou has an impressive track record of reaching near full penetration in Iran on all introduced biogeneric products. Iran is a very interesting market with a population of 80 million, of which more than 90 percent are covered by the publicly-funded health care and we see it as an ideal first market for our high demand complex generics,” commented Martin Åmark, CEO of Xbrane
The deal brings Xbrane potential annual revenue of USD10 million. Xbrane has the production capacity of 1 million doses of Spherotide per year with the possibility of increasing the capacity to 3 million doses if needed.
“Decapeptyl is the primary treatment for prostate cancer and has a turnover of approximately USD 450 million. The price for the treatment varies from USD 100 to USD 250, allowing us to place our biogeneric Spherotide at 50 percent less and still have the same or higher margins than the original treatment, thanks to our much more cost efficient production,” added Åmark.
Xbrane is a commercial phase Swedish biopharmaceutical company specialized in High Demand Complex Generics. Xbrane has world leading expertise in developing biogenerics for injectable slow release drugs and proprietary high-yield protein expression technology for the development of biosimilars. The goal is to become a global leader within the company’s portfolio of High Demand Complex Generics.
Xbranes’s headquarters is located in Stockholm and the company’s in-house research and development facilities are in Sweden and Italy.
For further information, please contact:
Martin Åmark, CEO, Xbrane
M: +46 (0) 763-093 777
Siavash Bashiri, COO, Xbrane
M: +46 (0) 734-343 619