Race Signs Agreement With TrueMed

December 17, 2018 04:44 PM AEDT | By Team Kalkine Media
 Race Signs Agreement With TrueMed

A distribution agreement is undertaken by the company with TrueMed in Israel for Brisbane NPP which includes profit share agreement based on sales of Bisantrene. The company already announced that it has commenced the distribution and sales of Bisantrene in Israel, under a named patient program.

CEO, Peter Molloy says, ‘That they believe the future global NPP sales of Bisantrene Israel could be an important contributor.’ Along with a strong belief and the opportunity for Bisantrene in AML with expertise in NPP, TrueMed based on their market research has a unique approach.

To provide access to the drug for patients who need it, TrueMed is proud, and according to TrueMed’s Shmulik Berkovich and Arie Koren, the co-CEOs ‘to partner with Race Oncology Bisantrene’s, long and robust development program makes it a significant option for those patients deemed appropriate by their treating physicians and a potential game-changer. TrueMed and Race under the distribution agreement will share the value of all Bisantrene NPP sales in Israel, with 40% retained by TrueMed and 60% of sales turnover paid to Race.

In Israel for NPP use, TrueMed will have the exclusive right to sell and distribute Bisantrene, and in the UK will source Bisantrene exclusively from Race’s global distribution partner Durbin. For local NPP distribution of Bisantrene in gaining the approval of the Israeli Ministry of Health (IMOH), TrueMed will be responsible until that approval has been obtained, sales cannot commence. The agreement can be terminated with nine months’ notice by either party, however, will operate for an initial period of three years.

Race owns new patents that are granted in the US and expire in 2034 and owns the original trademark Zantrene. It owns a US Orphan Drug Designation in AML years with seven exclusivities after approval. The company has access to the original IND from NCI and has manufactured GMP drug substance and drug product. Bisantrene is a drug that is under testing against a range of cancers in the 1980 and Race is rediscovering and repurposing bisantrene for the treatment of Acute Myeloid Leukaemia. To obtain US FDA approval and a pediatric trial to obtain a valuable Priority Review Voucher Race intends to start an adult clinical trial in r/r AML in 2019.

Race Oncology Ltd (ASX:RAC) traded at a market price of $0.097 with a daily price change of 8.989% or $0.008 as at December 17, 2018. The stock price is very near to its 52-week low.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.