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Korea-based Dong-A ST has entered into an exclusive licensing agreement with Melbourne-based Arrotex Pharmaceuticals, for exclusive rights to the commercialisation of an innovative treatment for focal-onset seizures in adults 18 years of age and older in Australia and New Zealand.
Arrotex currently fulfills around 50 percent of Australia’s PBS funded prescriptions by volume and is a leading provider of neurological medicines.
The licensing arrangement includes upfront, regulatory milestones, sales milestones, and royalty considerations throughout the term of the agreement. The active ingredient is known as an anti-seizure medicine, and although the precise mechanism of action is unknown it is thought to reduce repetitive neuronal firing by inhibiting voltage-gated sodium currents and additionally acting as a positive allosteric modulator of the γ-aminobutyric acid (GABA) ion channel.
"Arrotex’s strong commercial capabilities, national distribution network, and deep relationships with healthcare professionals will be instrumental in ensuring timely and broad access for patients living with seizures. Together, we look forward to improving outcomes for patients across the region,” said Jae-Hun Jung, Chief Executive Officer of Dong-A ST.
"As Australia’s partner in health, we will leverage our national infrastructure and expertise to ensure this important new treatment reaches patients living with seizures across Australia and New Zealand. We look forward to working with Dong-A ST to expand access and support patients, families, and clinicians across the region,” said Matt Zeller, Chief Executive Officer of Arrotex Pharmaceuticals.
