- Paradigm Biopharmaceuticals (PAR) has extended and expanded its supply agreement with bene pharmaChem
- bene pharmaChem is the only FDA approved manufacturer and supplier of Pentosan Polysulphate Sodium (PPS)
- The ingredient is a key component of PAR’s pain treatment, which targets musculoskeletal disorders, inflammation, aging and infection
- The new agreement see’s Paradigm lock-in a 25 year supply on bene PPS, from the date of marketing approval
- Additionally, under the new agreement Paradigm has expanded clinical indications and the number of approved territories
- Share in Paradigm are trading up 11.2 per cent for $2.68 per share
Late stage drug developer Paradigm Biopharmaceuticals (PAR) has extended and expanded its supply agreement with bene pharmaChem.
The agreement and exclusive licence was first signed back in 2014 and relates primarily to the supply of Pentosan Polysulphate Sodium (PPS).
bene pharmaChem is the only FDA approved manufacturer and supplier of PPS, which is the key ingredient used in Paradigm’s pain treatment.
The drug developer is working on a treatment which targets pain associated with musculoskeletal disorders driven by injury, inflammation, aging, degenerative disease, infection or genetic predisposition.
Under the new supply agreement, Paradigm has locked in exclusive access to bene’s PPS for 25 years from the date of marketing approval.
Additionally, PAR has expanded the number of territories it can market to, including all of the major markers, minus Japan — which is subject to a separate agreement.
The company has also been able to expand the number of indications under this new agreement with bene.
Paradigm CEO Paul Rennie said today’s agreement is a big milestone for the company as it moves towards commercialisation.
“There are no generic versions of bene PPS on the market and this makes the exclusive supply of bene PPS so valuable to our commercial plans,” he said.
While bene pharmaChem Co-Managing Director Harald Benend said the company had full confidence in Paradigm’s capabilities.
“Bene and Paradigm have developed a very solid commercial partnership over the past seven years,” he said.
“We are excited to see Paradigm commencing its Phase 3 clinical trials in Europe, the USA and Australia in the near future,” he added.
Share in Paradigm are trading up 11.2 per cent for $2.68 per share.