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Neopharma Forms Joint Venture With Elevar Therapeutics for Commercialization of Oncology NCE

twitter-logo PTI        Last Updated: October 25, 2019  | 11:21 IST

(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.) HYDERABAD, India and ABU DHABI, United Arab Emirates, Oct. 25, 2019 /PRNewswire/ -- Abu Dhabi-based pharmaceutical manufacturer Neopharma and US-based Elevar Therapeutics entered into an agreement to establish a joint venture in UAE with 50:50 partnership. The company plans to establish a specific sales network for Rivoceranib, a targeted anticancer drug and conduct clinical trials for other pipeline candidates. Neopharma, a global pharmaceutical company will undertake commercializing responsibility through its presence in various countries of MENA & India. Suresh Kumar Nandiraju, Chief Operating Officer of Neopharma said, "This joint venture is an embarking step to critical care complex oncology candidates and symbolizes our commitment towards addressing unmet treatment needs of patients. We are very keen on expanding our immuno-oncology portfolio and Rivoceranib; along with other pipeline molecules that would strengthen our product offerings globally with a commitment to offer better life for patients." Rivoceranib is the first successful small-molecule angiogenesis inhibitor in gastric cancer. It acts by inhibiting angiogenesis, a critical process in cancer growth and proliferation. Specifically, Rivoceranib selectively inhibits VEGFR-2 which mediates the primary pathway for tumor-mediated angiogenesis. It has been clinically tested in over 1,000 patients worldwide and has demonstrated efficacy in numerous cancers including gastric cancer, CRC, HCC, NSCLC, esophageal cancer, thyroid cancer, mesothelioma, and neuroendocrine tumors. About Neopharma LLC: Neopharma LLC, UAE is one of the largest pharmaceutical companies in MENA region with 100% subsidiaries in USA, Japan, Brazil, UK and India. A vertically integrated business, comprising of Key intermediaries, API, R&D and Formulation facilities in regulated and emerging markets. Our global presence is supported by 10 manufacturing facilities spread across 3 continents delivering a wide range of branded & generic formulations, and Active Pharmaceutical Ingredients (APIs). The therapeutic segments covered are acute and chronic therapies and have a strong foot hold in anti-infective segment. Neopharma is primarily focusing on novel therapeutics, increasing portfolio depth and debilitating diseases at affordable prices. For further information, please visit: www.neopharma.com About Therapiva: Therapiva, Indian subsidiary of Neopharma, is a leading generics pharmaceutical company backed by LAXAI Life Sciences (www.laxai.com), an innovative R&D center in Hyderabad. It has a robust product portfolio spread across various therapeutic areas, capable of handling new, complex and hazardous reactions. Therapiva supplies NCEs, cGMP intermediates and KSMs to global innovators. It is equipped with flexible, versatile and advanced infrastructure, tailored to fit any complex chemistry molecules churning out of Innovator's development pipelines. For further information please visit: www.therapiva.net About Elevar Therapeutics: Elevar Therapeutics is a privately held pharmaceutical company based in Salt Lake City, Utah with offices in South San Francisco, USA, which is owned by HLB, a listed company in South Korea. Elevar Therapeutics specializes in clinical development of promising therapies for unmet medical needs in cancer. It is developing two proprietary drugs and working on multiple early-stage candidates. For further information, please visit: www.elevartherapeutics.com Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management's current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults, currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues. Photo: https://mma.prnewswire.com/media/1016105/Neopharma_Elevar_Joint_Venture.jpg PWR PWR

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