Xbrane Biopharma AB: Spherotide granted Market Aut
Post# of 301275
Press release 2017-07-24
Xbranes partner Pooyesh Darou has been granted Market Authorization for sales and marketing of Spherotide 1 month formulation in Iran under the local brand name Microrelin®. "This is a major milestone for Xbrane as it is the first Market Authorization granted for Spherotide to a local sales and marketing partner. This demonstrates the quality and performance of the product. We are confident that Spherotide will contribute positively to the Iranian healthcare system with a more cost-efficient treatment option than currently available for targeted indications." says Martin Åmark, Xbranes CEO
Spherotide is a generic long acting formulation with the active substance triptorelin and is used in the treatment of prostate cancer, endometriosis, uterine fibroids, precocious puberty and breast cancer. The drug is based on encapsulation of the active ingredient in biodegradable microspheres that degrade in the body after injection and create a long acting effect. The originator product is estimated to generate annual sales of approximately $ 500 million globally and $ 30 million in the Middle East.
About Xbrane Xbrane is a commercial phase Swedish biopharmaceutical company specialized in biosimilars and long acting injectables. Xbrane has world leading expertise in developing generics for long acting injectable drugs and proprietary high-yield protein expression technology for the development of biosimilars. Xbranes's headquarter is located in Stockholm and the company's in-house research and development facilities are in Sweden and Italy. Xbrane is listed at Nasdaq First North since February 3 rd , 2016 under the name XBRANE and Avanza Bank AB is Xbrane's certified advisor. For more information see www.xbrane.com .
For further information, please contact: Martin Åmark Chief Executive Officer M: +46 (0) 763-093 777 E: martin.amark@xbrane.com
This information is information that Xbrane Biopharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 July 24 2017.
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