Cosmo Pharmaceuticals will receive a €4m upfront payment Alfasigma plus double digit royalties
Lumeblue was recently approved by EMA for the detection of lesions during colonoscopy
Alfasigma will distribute Lumeblue in EU, Switzerland, UK, European Economic Area countries, Russia and Mexico
BOLOGNA, Italy, Feb. 5, 2021 /PRNewswire/ -- Alfasigma Spa has finalized a licensing agreement to distribute Lumeblue in the EU (plus Switzerland, UK, European Economic Area countries, Russia and Mexico) with Cosmo Pharmaceuticals. Lumeble was recently approved by EMA for the detection of lesions during colonoscopy.
Alfasigma, a private company, is one of the top 5 pharmaceutical players in Italy and has a large worldwide operations with more than 3000 employees, 16 direct branches and a presence, direct or through distributors, in more than 80 countries. Alfasigma's growth strategy is based on a strong focus on research & development (internally developed molecules represent more than 50% of global sales), the acquisition of other companies and assets, and the license of innovative pharmaceutical products such as Lumeblue. Alfasigma has a strong focus in gastro-intestinal diseases, with both prescription and over-the-counter drugs.
Cosmo Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing products to treat selected gastrointestinal disorders and improve endoscopy quality measures through aiding the detection of colonic lesions. Cosmo, which also developed medical devices for endoscopy, was founded in Italy in 1997 and is listed in Switzerland on the Zurich Stock Exchange.
Pier Vincenzo Colli, CEO di Alfasigma, declares: "This agreement is another important milestone in our journey to establish Alfasigma as an international specialty company strongly focused on gastro-intestinal disorders. With the addition of Lumeble to Alfasigma's strong GI portfolio we will be able to offer better support for our customers to improve diagnosis and save patients' lives."
Cosmo will receive a €4m upfront payment from Alfasigma, plus double-digit royalties and commercial milestones. Cosmo will be the exclusive supplier of Lumeblue.
Alessandro Della Chà, CEO of Cosmo, said: "We are honored to license Lumeblue to Alfasigma, a highly respected company with a history of success in the development and marketing GI drugs. The unique focus of Alfasigma in GI from the treatment of colonic diseases to preparation for colonoscopy makes Alfasigma the perfect partner to tackle the large European colonoscopy market with Lumeblue."
Pier Vincenzo Colli closes: "In this difficult period due to the global pandemic, Alfasigma confirms its support to healthcare operators. Our goal is to improve their works and the quality of life of millions of patients that utilize our drugs all around the world."
About Alfasigma
Privately owned, Alfasigma is an Italy based multinational pharmaceutical company, present in over 90 countries, through distributors and subsidiaries. The company employs a workforce of around 3,000 people, has in-house R&D capabilities, and several production plants. Alfasigma is known for the strong focus on Gastroenterology and Vascular.
More information is available at the corporate website https://www.alfasigma.com
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