SAN FRANCISCO--(EON: Enhanced Online News)--Ascendancy Healthcare, Inc., focused on the commercialization of therapeutic products in China and other high-growth Asian markets, has entered into an agreement with EffRx Pharmaceuticals SA to establish and manage a distribution network for Binosto (alendronate sodium), the first and only buffered effervescent solution for the treatment of osteoporosis. The agreement covers Taiwan, Australia, New Zealand, and certain countries in Southeast Asia. Under the terms of the agreement, Ascendancy will serve as EffRx’s exclusive partner to establish a distribution network for these regions, and will receive milestone payments and royalties from EffRx on distribution sales.
“We believe that Binosto represents an attractive opportunity for the Asia and Australia markets, and we look forward to working with EffRx to maximize the commercial potential of Binosto in these regions.”
“We are very excited to announce our new collaboration with EffRx, an innovative pharmaceutical company with deep expertise in drug delivery technologies,” stated Sanford S. Zweifach, Ascendancy co-founder and Chief Executive Officer. “We believe that Binosto represents an attractive opportunity for the Asia and Australia markets, and we look forward to working with EffRx to maximize the commercial potential of Binosto in these regions.”
EffRx believes that now is an opportune time to launch such an initiative, given the company’s focus on the commercialization of Binosto in markets outside of the United States. Binosto was launched in the United States in October 2012, and the European launch is scheduled for the first quarter of 2014. “We are very excited to utilize Ascendancy’s expertise and local footprint in Asia to accelerate and strengthen the Binosto opportunity in this region,” stated Lorenzo Bosisio, Chief Commercial Officer.
About Ascendancy Healthcare
Ascendancy Healthcare is focused on the development and registration of pharmaceutical products in China and other high-growth Asian markets. The company’s partnering model centers around the acquisition of China rights to products approved or in late-stage development in the US, Europe or Japan. Led by a team with extensive operating experience in China and Asia, Ascendancy accelerates entry into these markets by providing clinical, regulatory and commercial expertise, along with funding and on-the-ground development and registration oversight through product approval.
Ascendancy was founded by Arthur Higgins, former Chairman and CEO of Bayer Healthcare, and Sandy Zweifach, former Managing Director of Bay City Capital and Reedland Partners. The company is privately held, and its investors include Bay City Capital and IndUS Growth Partners.
About EffRx Pharmaceuticals
EffRx Pharmaceuticals is an innovative specialty pharmaceutical company that exploits its proprietary technology platform to create novel therapeutic entities.
EffRx strives to make existing good medicines better and thereby improve the quality of life of patients. EffRx targets improvements to leading medications, focused on tolerability, absorption, compliance and convenience, thus creating best in class products.
EffRx has established its proprietary pipeline in metabolic bone disease and pediatric medications and is partnering with pharmaceutical companies to create life cycle management opportunities in their portfolios.