SMO biotechnologies letter of intent sign with Megapharm market SOM3355 in Israel and the Palestinian Authority
Barcelona, Spain, 15 December 2021. SOM Biotech (“SOM” or the “Company”), a clinical-stage biopharmaceutical company with proprietary AI-based drug discovery technology focused on orphan neurological diseases, today announces that it has signed a letter of intent with Megapharm Ltd. (“Megapharm”), a major pharmaceutical company based in Israel, regarding a potential exclusive distribution agreement for the commercialization of SOM3355 to treat symptoms of chorea in Huntington’s disease (“HD”) in Israel and the Authority Palestinian.
Under the terms of the agreement, Megapharm would be responsible for the registration and commercialization of SOM3355 in Israel and the Palestinian Authority and SOM Biotech would be responsible for manufacturing, product supply, insurance and quality control, regulatory support and intellectual property maintenance.
Raul Insa, Cchief Eexecutive Oofficer by SOM Biotech, noted: “SOM3355 has already demonstrated a positive Phase 2a results showing it has the potential to treat symptoms of chorea in HD and ones we are preparing to start the Phase 2b test in Q1 2023, it’s great to have Megapharm already interested in partnering with us to market the SOM3355 in the region. Megapharm has particularly relevant experience in the marketing of drugs for HD and we seek to useand his specific knowledge and network of physicians as we pursue the clinical development of SOM3355.”
Miron Drucker, CEO of Megapharm, noted: “We are very happy to have engaged in discussions with SOM Biotech As it concerns distribution and marketing of SOM3355. SOM3355 has the potential to improve the lives of patients suffering from chorea symptoms in HD and we are committed to work with SOM biotechnologies To advance this by the clinic and to the HD community in Israel and the Palestinian Authority.”
ENDS
For more information on SOM Biotech, please contact:
Media Contact:
Maria Zimina
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advice Strategic Communications
Amber Fennell, Lindsey Neville, Giulia Lasagni
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About SOM Biotech
SOM Biotech (www.sombiotech.com) – established in 2009 – is a biopharmaceutical company based in Barcelona, Spain. SOM has an extensive pipeline of product candidates that includes drugs for orphan neurological diseases including TTR amyloidosis, Huntington’s disease, tardive dyskinesia, phenylketonuria, Niemann-Pick C, glioblastoma and Parkinson’s disease. The Company is committed to the accelerated discovery of therapies through proprietary computational technology based on artificial intelligence (SOMAI PRO) and develops strategic partnerships with major research centers and pharmaceutical companies. The Society has received partial funding for a number of its programs from the Spanish Ministries of Science and Innovation (CDTI) and Industry (ENISA).
On SMOAI PRO
SMOAI PRO is the company’s proprietary AI-based drug discovery technology. The Company successfully uses this technology to identify effective drugs for the treatment of a specific disease, to discover new mechanisms of action and new applications for a drug, and predict the toxicity of compounds, as well as molecular scaffolds for new chemical entities. The key strength of the technology is its high success rate, with two of the Company’s programs already achieving positive Phase 2a results. Moreover, while other AI-based approaches use methods based on data mining, structural similarity or target structure, SOMAI PRO uses molecular fields, allowing for an increased success rate, with results achieved in the shortest possible time and significantly reducing the costs associated with drug discovery.
About SOM3355
SOM3355 is potentially the only safe VMAT2(-) not linked to serious adverse events such as depression, suicide, parkinsonism or neuroleptic syndrome. The Company intends to initiate a phase 2b in the first quarter of 2023.
On Megapharm
Megapharm Ltd. is a leading Israeli private pharmaceutical marketing company, founded in 1989, exclusively representing a number of major American, European and Japanese pharmaceutical companies. Megapharm provides its partners with a full set of business capabilities, including registration, market access, sales and marketing. Megapharm has demonstrated dynamic sales growth by developing a strong corporate presence and expertise in selected therapeutic areas (i.e. Additional information can be found at: www.megapharm.co.il
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