Amryt Pharma PLC Distribution Agreement Signed in Saudi Arabia (2393W)
November 13 2017 - 1:00AM
UK Regulatory
TIDMAMYT
RNS Number : 2393W
Amryt Pharma PLC
13 November 2017
13 November 2017
AIM: AMYT
ESM: AYP
Amryt Pharma plc
("Amryt" or the "Company")
Distribution Agreement Signed in Saudi Arabia
Amryt, a biopharmaceutical company focused on rare and orphan
diseases, is pleased to announce that it has signed a
distributorship agreement, with Faisal Musaed El Seif Saudi
Pharmaceutical Company ("El Seif"), for Amryt's products in the
Kingdom of Saudi Arabia ("Saudi Arabia"). This exclusive agreement
covers Lojuxta (lomitapide) and AP101, the Company's clinical stage
product, currently in Phase 3 trials. El Seif, an affiliate of El
Seif Development Company, is a leading distributor of medical
devices and pharmaceuticals in Saudi Arabia, and has a strong
presence in the rare and orphan diseases drug sector.
Amryt acquired exclusive marketing rights for Lojuxta in the
European Economic Area, Middle East, North Africa, Turkey and
Israel in December 2016. Lojuxta is a treatment for Homozygous
Familial Hypercholesterolaemia ("HoFH"), a rare, life-limiting
disease, which impairs the body's ability to remove LDL cholesterol
("bad" cholesterol) from the blood. The disease process starts
before birth and progresses rapidly. It typically results in
extremely high blood LDL cholesterol levels, leading to aggressive
and premature narrowing and blocking blood vessels. Left untreated,
heart attack or sudden death may occur in childhood or early
adulthood.
The Company estimates that there are currently in excess of 150
patients with HoFH in Saudi Arabia.
AP101 is currently in pivotal Phase 3 trials, which Amryt hopes
will show its efficacy as a potential treatment for Epidermolysis
bullosa, a life-limiting and particularly distressing genetic skin
disorder. The Company's agreement with El Seif covers AP101 in
anticipation of a successful conclusion of these trials.
Dr. Joe Wiley, Chief Executive Officer of Amryt Pharma,
said:
"We are delighted to be working with El Seif and to have signed
this exclusive distribution agreement which covers Lojuxta and
AP101. El Seif has an extensive footprint in Saudi Arabia, and
significant breadth and depth of experience and relationships
across the institutional and Ministry of Health sectors."
"The signing of this partnership with El Seif is another key
milestone for Amryt as we broaden our capability and reach to
ensure complete coverage across our key territories."
Enquiries:
C/o KTZ Communications
Amryt Pharma plc (details below)
Joe Wiley, CEO
Rory Nealon, CFO/COO
Shore Capital +44 (0) 20 7408 4090
Nomad and Joint Broker
Edward Mansfield, Mark
Percy
Davy +353 (1) 679 6363
ESM Adviser and Joint Broker
John Frain, Anthony Farrell
Stifel +44 (0) 20 7710 7600
Joint Broker
Jonathan Senior, Ben Maddison
KTZ Communications +44 (0) 20 3178 6378
Katie Tzouliadis, Irene
Bermont-Penn, Emma Pearson
About Amryt Pharma plc
(www.amrytpharma.com)
Amryt Pharma is a specialty biopharmaceutical company focused on
developing and delivering innovative new treatments to help improve
the lives of patients with rare or orphan diseases. The Company is
building a diversified portfolio of commercially attractive,
best-in-class, proprietary new drugs to help address some of these
rare and debilitating illnesses for which there are currently no
available treatments.
The Company holds an exclusive licence to sell Lojuxta
(lomitapide) for adults, across the European Economic Area, Middle
East and North Africa, Turkey and Israel. Lojuxta is used to treat
a rare life-threatening disease called Homozygous Familial
Hypercholesterolemia, which impairs the body's ability to remove
LDL cholesterol ("bad" cholesterol) from the blood. This typically
results in extremely high blood LDL cholesterol levels, leading to
aggressive and premature narrowing and blocking of arterial blood
vessels. If left untreated, heart attack or sudden death may occur
in childhood or early adulthood.
Amryt's lead drug candidate, AP101 (Episalvan), is a potential
treatment for Epidermolysis bullosa ("EB"), a rare and distressing
genetic skin disorder affecting young children for which there is
currently no treatment. It is currently in Phase 3 clinical trials.
The global market opportunity for EB is estimated to be in excess
of EUR 1.3 billion.
Amryt's earlier stage product AP102 is focused on developing
novel, next generation somatostatin analogue ("SSA") peptide
medicines for patients with rare neuroendocrine diseases, where
there is a high unmet medical need, including acromegaly and
Cushing's disease.
The Company joined AIM and Dublin's ESM in April 2016 following
the reverse takeover of Fastnet Equity PLC.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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