SK Biopharmaceuticals has signed a licensing agreement with Eurofarma, a Brazilian pharmaceutical company, to develop and commercialise cenobamate in Latin America for epilepsy treatment.
The drug is approved and available in the US and Europe to treat partial-onset seizures in adults.
As per the terms of the agreement, SK Biopharmaceuticals has granted exclusive rights to Eurofarma to develop and commercialise cenobamate in Latin America.
In exchange, SK Biopharmaceuticals will get payment of $15m upfront. It is also eligible to get milestones of up to $47m besides royalties on sales in Latin America.
For cenobamate, SK Biopharmaceuticals completed partnerships in Japan, China, Canada, and Israel.
Now with this deal, SK Biopharmaceuticals will have presence in four continents: North America, Europe, Asia and Latin America.
SK Biopharmaceuticals president Jeong Woo Cho said: “We are extremely pleased to partner with Eurofarma, which has a proven track record in the region and a widespread network to drive development and commercialisation of cenobamate in Latin America.
“This partnership reaffirms our commitment to provide innovative treatments to people with epilepsy. We will continue to broaden our footprint around the world to support the patient community with cenobamate.”
Epilepsy is a common neurological disease, impacting more than six million people in Latin America.
More than half of the people suffering with epilepsy in Latin America and the Caribbean do not get right treatment, according to the Pan American Health Organization (PAHO), the regional office of the World Health Organization (WHO) for the Americas.