NEW DELHI (dpa-AFX) - Pharmazz, Inc., a Willowbrook, Illinois-based biopharmaceutical company, announced Thursday that it has entered into a license agreement with India's Sun Pharmaceutical Industries Ltd. to introduce Tyvalzi (Sovateltide) in India. The country is the first global territory where Sovateltide is being introduced.
Sovateltide is indicated to treat acute cerebral ischemic stroke, a condition in which the loss of blood supply to the brain prevents brain tissue from receiving oxygen and nutrients. This would result in potential brain damage, neurological deficits, or death. The drug can be administered up to 24 hours after the onset of symptoms.
Under the deal terms, Sun Pharma will get rights for marketing Sovateltide in India under the brand name Tyvalzi (Sovateltide). Pharmazz will be entitled to upfront and milestone payments, including royalties.
Sun Pharma, the largest pharmaceutical company in India, is the owner of the brand name Tyvalzi, which promotes neurovascular remodeling by forming new neurons and blood vessels. Tyvalzi also protects neural mitochondria and enhances their biogenesis.
Pharmazz obtained marketing authorization for two of its first-in-class drug molecules, Centhaquine and Sovateltide, for hypovolemic shock and ischemic stroke, respectively, in India.
Kirti Ganorkar, CEO - India Business, Sun Pharma said, 'The Phase 3 clinical trial for Tyvalzi conducted in India demonstrated statistically and clinically meaningful improvement in neurological outcomes in ischemic stroke. Tyvalzi is a first-in-class innovative drug which can help improve the quality of life of stroke patients. The drug can be administered within 24 hours for the treatment of ischemic stroke. The current treatment options provide a narrow time window of 4-5 hours limiting its use in most patients.'
According to the company, the global burden of disease project estimated the number of incident cases of stroke in India to be around 1.18 millon. By 2050, more than 80% of the predicted global burden of new strokes of 15 million is expected to occur in low and middle-income countries.
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