Tuesday, August 02, 2022
Glycostem Therapeutics B.V., a leading clinical-stage company focused on the development of therapeutic allogeneic off-the-shelf Natural Killer (NK) cells, and medac GmbH, an international pharmaceutical company based in Germany, will partner to commercialize Glycostem's lead product, oNKord®. oNKord® is currently in a phase I/II clinical trial across 10 hospitals in 5 European countries.
Under the terms of the agreement, medac receives an exclusive license to commercialize oNKord® in the EU, the UK and further European countries for acute myeloid leukemia (AML) and multiple myeloma (MM) patients. Glycostem will receive an undisclosed upfront payment and through the manufacturing of oNKord® a part of future revenues. Glycostem will also be eligible for payments upon achievement of certain development and sales milestones.
"This is our 2nd commercialization agreement following the deal with inno.N for Korea and Japan. AML and MM patients desperately need new, safe and effective treatments, all over the world. This collaboration is of great importance as little is currently available for AML and MM patients and we are pleased to have been able to attract a partner in the caliber of medac," said Troels Jordansen, CEO.
"Like Glycostem, medac is committed to developing novel therapies, especially in areas of unmet medical need such as AML and MM. We believe in the high potential of oNKord® and look forward to providing patients in need with this new and innovative treatment," said medac CBDO Heiner Will.