Dublin, Ireland – 5 February 2021: Cosmo Pharmaceuticals NV (SIX: COPN) today announced that it has licensed the EU rights (plus Switzerland, UK, EEA countries, Russia and Mexico) for Lumeblue™ to Alfasigma S.p.A. Lumeblue™ is Cosmo’s recently EMA approved drug for the detection of lesions during colonoscopy.
Alfasigma, a private company, is one of the top 5 pharmaceutical player in Italy with a turnover in 2019 of more than €1b and large worldwide operations with more than 3.000 employees, 16 direct branches and presence, direct or through distributors, in more than 80 countries. Alfasigma’s growth strategy is based on a strong focus on research & development (internally developed molecules represent more than 50% of global sales), the acquisition of other companies and assets and the license of innovative pharmaceutical products such as Lumeblue™. Alfasigma has a strong focus in gastro-intestinal diseases, with both prescription and over-the-counter drugs.
Cosmo will receive a €4m upfront payment from Alfasigma, plus double-digit royalties and commercial milestones. Cosmo will be the exclusive supplier of Lumeblue™.
Alessandro Della Chà, CEO of Cosmo, said: “We are honored to license Lumeblue™ to Alfasigma, a highly respected company with a history of success in the development and marketing GI drugs. The unique focus of Alfasigma in GI from the treatment of colonic diseases to preparation for colonoscopy makes Alfasigma the perfect partner to tackle the large European colonoscopy market with Lumeblue™”.
Pier Vincenzo Colli, CEO of Alfasigma, declared: “This agreement is another important milestone in our journey to establish Alfasigma as international specialty company strongly focused on gastro-intestinal disorders. With the addition of Lumeblue™ to Alfasigma’s strong GI portfolio we will be able to offer better support for our customers to improve diagnosis and save patients’ lives”.
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 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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