14 November 2019 - - Belgium-based liver therapeutics specialist Promethera Biosciences SA and Japanese pharmaceutical products seller Medipal Holdings Corp. have entered into a business alliance agreement. In conjunction with the alliance, Medipal has decided to increase its shareholdings in the Promethera Group.
Promethera has been developing its lead liver cell-derived technology (HepaStem) in an area of high medical need, primarily for Non-alcoholic steatohepatitis, Acute-on-chronic liver failure and urea cycle disorder.
Promethera completed the recruitment of 24 patients in its Phase 2a study in Acute-on-chronic liver failure in July 2019. The 3 months follow-up data were presented on 10th November at the AASLD 2019 conference (70th American Association for the Study of the Liver Diseases).
In addition, the Phase 2a clinical study in patients with late stage NASH with world's first cell therapy was initiated in May 2019.
Medipal will support Promethera in the commercialization of its products in Japan through the subscription to a private placement of new shares on March 20th, 2019, with the aim to expand the products it handles in the regenerative medicine field going forward.
The purpose of this alliance is to further deepen the cooperative relationship between the two companies by providing access to Medipal's know-how and capabilities in the distribution of cellular medicines at ultra-low temperatures.
Medipal will support Promethera's clinical trials and aims to provide a steady supply after its product launch.
As a holding company, Medipal controls, administers and supports the operating activities of companies in which it holds shares in the Prescription Pharmaceutical Wholesale Business; the Cosmetics, Daily Necessities and OTC Pharmaceutical Wholesale Business; and the Animal Health Products and Food Processing Raw Materials Wholesale Business, and conducts business development for the MEDIPAL Group.
Promethera Biosciences is a global innovator in liver therapeutics whose mission is to bring patients life-saving treatments to reduce the need for liver transplantation. Promethera develops and manufactures allogeneic cell-based medicines for liver diseases by using regenerative medicine technology.