Dublin – May 8, 2019 – Cosmo Pharmaceuticals NV (SIX: COPN) announced today that it has entered into a new exclusive supply and distribution agreement for Eleview with Medtronic for the US, China and South America, having in the meantime terminated by mutual consent the co-marketing agreement with Olympus.
Further, Cosmo announced that it has entered into a Collaboration Agreement with Medtronic to start a research collaboration in Artificial Intelligence in GI and explore various technological solutions and related business opportunities.
“Thanks to the highly recognized expertise in GI and a decade of hard work and investments in endoscopy, we are now able to consistently strengthen our cooperation with Medtronic, the biggest player in medical technology. The Eleview deal allows the franchise to expand with an unrivalled marketing firepower, while the collaboration deal opens up new exciting perspectives for Artificial Intelligence in GI and marks Cosmo as a significant player in one of the most cutting-edge fields. We are proud of these new opportunities” said Alessandro Della Chà, CEO of Cosmo.
About Cosmo Pharmaceuticals
Cosmo is a specialty pharmaceutical company that aims to become a global leader in the field of optimized therapies for selected gastrointestinal disorders. The company’s proprietary clinical development pipeline specifically addresses innovative treatments for IBD, such as Ulcerative Colitis and Crohn’s Disease, and Colon Infections. In addition, the Company developed Eleview™, a medical device for polyp excision and is developing Methylene Blue MMX®, a product for the detection of colon cancer, has licensed a novel sedation agent Remimazolam for the territory of the US from Paion and has a large shareholding in Cassiopea S.p.A., a clinical-stage specialty pharmaceutical company focused on developing and commercializing innovative and differentiated medical dermatology products. Cosmo’s MMX® products that have reached the market are Lialda®/Mezavant®/Mesavancol®, a treatment for Ulcerative Colitis that is licensed globally to Nogra and Shire Limited and Uceris®, the first glucocorticosteroid indicated for the induction of remission in active, mild to moderate Ulcerative Colitis, licensed in the USA to Santarus/Salix/Valeant and in the Rest of the World to Ferring and Aemcolo™ which is licensed to Dr. Falk Pharma in Europe. Cosmo’s proprietary MMX® technology is at the core of the Company’s product pipeline and was developed from its expertise in formulating and manufacturing gastrointestinal drugs for international clients at its GMP (Good Manufacturing Practice) facilities in Lainate, Italy. The technology is designed to deliver active ingredients in a targeted manner in the colon. For further information on Cosmo, please visit the Company’s website: www.cosmopharma.com
Financial Calendar
R&D Day, Zurich May 8, 2019
Shareholders meeting, Amsterdam May 28, 2019
Jefferies Global Health Care Conference June 4-6, 2019
Contact
John Manieri, Head of Investor Relations
Cosmo Pharmaceuticals N.V.
Tel: +353 (1) 8170 370
jmanieri@cosmopharma.com
Disclaimer
Some of the information contained in this press release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Cosmo undertakes no obligation to publicly update or revise any forward-looking statements.
This communication is not an offer of securities of any issuer. Securities may not be offered or sold in the United States absent registration or an exemption from the registration requirement of the US Securities Act of 1933.
This press release constitutes neither an offer to sell nor a solicitation to buy securities and it does not constitute a prospectus within the meaning of article 652a and/or 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange or any similar document. The offer will be made solely by means of, and on the basis of, a securities prospectus to be published. An investment decision regarding the securities to be publicly offered should only be made on the basis of the securities prospectus.
This press release is made to and directed only at (i) persons outside the United Kingdom, (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), and (iii) high net worth individuals, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order. Any person who is not a relevant person should not act or rely on this press release or any of its contents.
This press release does not constitute an “offer of securities to the public” within the meaning of Directive 2003/71/EC of the European Union (the “Prospectus Directive”) of the securities referred to in it (the “Securities”) in any member state of the European Economic Area (the “EEA”). Any offers of the Securities to persons in the EEA will be made pursuant to an exemption under the Prospectus Directive, as implemented in member states of the EEA, from the requirement to produce a prospectus for offers of the Securities.
COSMO PHARMACEUTICALS: NEW EXCLUSIVE DISTRIBUTION AGREEMENT FOR ELEVIEW WITH MEDTRONIC IN THE US, CHINA AND SOUTH AMERICA AND FURTHER COLLABORATION AGREEMENT TO STRENGTHEN COOPERATION IN THE ARTIFICIAL INTELLIGENCE FIELD
by
Tags: