|31 October, 2019

Neopharma forms JV with Elevar Therapeutics for commercialization of Oncology NCE

Neopharma a global pharmaceutical company will undertake commercializing responsibility through its presence in various countries of MENA & India

Abu Dhabi, UAE - 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 would strengthen our product offerings globally with a commitment to offer better life for patient.

Rivoceranib is the first successful small-molecule angiogenesis inhibitor in gastric cancer. Rivoceranib 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. Rivoceranib 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: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 having 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 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. Elevar Therapeutics is developing two proprietary drug 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.

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases