OSE CEO Dominique Costantini said: "This collaboration represents a significant step as first licensing and distribution agreement in the business development strategy for OSE Pharma with pharmaceutical companies well established in specific countries.
"RAFA has obtained a leading position, long history in the pharmaceutical sector particularly in orphan respiratory diseases and in oncology/supportive care.
"The long-standing relationships with Israeli key opinion leaders made them an ideal partner for Israel and this substantial agreement has been facilitated by our advanced clinical stage in NSCLC."
OSE Pharma is launching its phase 3 in Non-small cell lung cancer in 2015 in the USA (Orphan status obtained in NSCLC patients HLA-A2 Positive) and in Europe (product considered as personalized medicine) and plan to have the results in 2018.
The company plans other phase 2 clinical trial for other cancers alone or in combination with other immunotherapy or targeted therapy.
"We are delighted of this first licensing and distribution agreement with a renowned pharmaceutical company, validating the potential of Tedopi in NSCLC and other cancer indications," adds Alexis Peyroles, OSE Pharma’s Chief Financial Officer.
Under the terms of the distribution agreement, RAFA will submit the drug for approval in Israel, market and distribute it in the territory for a long term period.
RAFA will pay an upfront and milestone payments based on the future development of the product in addition to equally sharing the profit of Tedopi’s sales in Israel.