Navidea Enters Exclusive License and Distribution Agreement For India with Sayre Therapeutics
June 20 2017 - 10:37AM
Business Wire
Tc 99m Tilmanocept Already Commercialized in
Three Major European Countries
Represents Next-Generation Standard of
Diagnosis For Sentinel Lymph Node Detection
Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB) (“Navidea”), a
company focused on the development and commercialization of
precision immunodiagnostic agents and immunotherapeutics, today
announced that it has entered into an exclusive license and
distribution agreement (the “License Agreement”) with Sayre
Therapeutics for the development and commercialization of Tc 99m
tilmanocept in India. Sayre Therapeutics specializes in innovative
treatments and medical devices commercialization in South Asia.
Under the terms of the agreement, Navidea received an upfront
payment and is eligible to receive upcoming milestone payments and
double-digit royalties associated with the sale of Tc 99m
tilmanocept in India.
Michael Goldberg, M.D., President and Chief Executive Officer of
Navidea, stated, “We view this partnership as an important
milestone in the expansion of tilmanocept’s adoption globally and
reiterates our commitment to patients the world over. The terms of
our agreement with Sayre are favorable and the increased economics
will drive further revenues to fund our other pipeline assets.”
About Tc 99m Tilmanocept
Tc 99m tilmanocept 50 microgram kit for radiopharmaceutical
preparation is approved in Europe for imaging and intraoperative
detection of sentinel lymph nodes draining a primary tumour in
adult patients with breast cancer, melanoma, or localised squamous
cell carcinoma of the oral cavity. External imaging and
intraoperative evaluation may be performed using a gamma detection
device. Tc 99m tilmanocept is designed for the precise
identification of lymph nodes that drain from a primary tumour,
which have the highest probability of harbouring cancer.
About Sayre Therapeutics
Sayre Therapeutics Private Ltd. is South Asia’s only integrated
platform for disease management backed by a unique distribution and
commercialization model for novel and / or differentiated drugs,
companion diagnostics, and drug-delivery devices in the
super-specialty areas of Oncology and Immunology. Companies with
novel Oncology and Immunology assets can work with us in South
Asia, as we focus on alleviating life-threatening diseases with
high unmet need.
About Navidea Biopharmaceuticals
Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB) is a
biopharmaceutical company focused on the development and
commercialization of precision immunodiagnostic agents and
immunotherapeutics. Navidea is developing multiple
precision-targeted products based on its ManoceptTM platform to
enhance patient care by identifying the sites and pathways of
disease and enable better diagnostic accuracy, clinical
decision-making, and targeted treatment. Navidea’s Manocept
platform is predicated on the ability to specifically target the
CD206 mannose receptor expressed on activated macrophages. The
Manocept platform serves as the molecular backbone of Tc 99m
tilmanocept, the first product developed and commercialized by
Navidea based on the platform. The development activities of the
Manocept immunotherapeutic platform are being conducted by Navidea
in conjunction with its subsidiary, Macrophage Therapeutics, Inc.
Navidea’s strategy is to deliver superior growth and shareholder
return by bringing to market novel products and advancing the
Company’s pipeline through global partnering and commercialization
efforts.
For more information, please visit www.navidea.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170620006080/en/
Navidea BiopharmaceuticalsJed Latkin, CFO/COO,
614-551-3416jlatkin@navidea.comorEdison AdvisorsTirth Patel,
646-653-7035tpatel@edisongroup.com
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