Dublin, Ireland – 3 December 2020: Cosmo Pharmaceuticals N.V. (SIX: COPN) today announced that it has licensed the Chinese rights for Lumeblue™ to China Medical System Holdings Ltd. (“CMS”) (SEHK: 867).
Lumeblue™ is Cosmo’s recently EMA approved drug for the detection of lesions during colonoscopy.
CMS is a well-established, innovation-driven specialty pharma with a focus on sales and marketing in China. CMS concentrates on innovative products that are global first-in-class or with the best efficacy or best cost-effectiveness in the same class due to their innovative formulations or drug delivery systems, and has built up an innovative pipeline with great market potential and competitive differentiation advantages at relatively high innovation level, covering various therapeutic fields. Meanwhile, CMS has proven and successful experience in drug promotion for over two decades, and established a professional, compliant and efficient academic promotion system. CMS is listed on the Main Board of the Stock Exchange of Hong Kong (stock code: 00867). For more information, please visit: http://en.cms.net.cn/CmsNewWebEn/Index.aspx.
CMS will pay Cosmo a USD 5m upon the earlier of (a) the execution of a supply agreement or (b) the forty-fifth (45th) day from the execution of this agreement, plus royalties and potential regulatory and commercial milestones. Cosmo will be the exclusive supplier of Lumeblue™.
Alessandro Della Chà, CEO of Cosmo, said: “CMS is the best possible partner for LumeblueTM on the Chinese market. CMS is a very reliable organization with an impressive track record and is known to concentrate on innovative therapies that can provide long lasting benefits. Though the Chinese market still has a limited number of colonoscopies compared to the overall population, it is larger than Europe in absolute terms and is expected to grow very quickly in the near future, hence the importance of making colonoscopy more effective with the help of LumeblueTM. I am looking forward to a very long and mutually rewarding partnership with CMS.”
Dr. Huaizheng Peng, Director of Global Investment Operations of CMS, said: “We are delighted to enter into this agreement with Cosmo, a company with a long history of developing innovative products in gastroenterology. We believe that Lumeblue™ will be very successful in China and will bring tremendous value to patients. Gastroenterology is one of our core therapeutic areas, and Lumeblue™ will become an important part of our growth strategy.”
About Cosmo Pharmaceuticals
Cosmo is a specialty pharmaceutical company focused on developing and commercialising products to treat selected gastrointestinal disorders and improve endoscopy quality measures through aiding the detection of colonic lesions. Cosmo has also developed medical devices for endoscopy and has recently entered into a partnership with Medtronic for the global distribution of GI Genius™ its artificial intelligence device for use in coloscopies and GI procedures. Cosmo has licensed Aemcolo® to Red Hill Biopharma Ltd. for the US and has licensed Relafalk® to Dr. Falk Pharma Gmbh for the EU and other countries. For additional information on Cosmo and its products please visit the Company’s website: www.cosmopharma.com
Calendar
Full Year Results 2020 March 26, 2021
Annual General Meeting, Amsterdam May 28, 2021
Contact
Niall Donnelly, CFO & Head of Investor Relations
Cosmo Pharmaceuticals N.V.
Tel: +353 1 817 03 70
ndonnelly@cosmopharma.com
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