Raptor Pharmaceutical Announces License Agreement for Convivia
Raptor Pharmaceutical Corp. announced that it has entered into an exclusive agreement with Uni Pharma Co., Ltd. to commercialize Convivia(TM), Raptor's proprietary oral formulation of 4-methylpyrazole ("4-MP"), in Taiwan.
Convivia(TM) is designed to reduce systemic acetaldehyde exposure and related symptoms in liver enzyme aldehyde dehydrogenase ("ALDH2") deficiency, or ethanol intolerance, following alcohol consumption. Currently, 4-MP is the active pharmaceutical ingredient in an existing intravenous therapeutic approved by the U.S. Food and Drug Administration for unrelated indications. Raptor announced positive results from a Phase 2a clinical trial of Convivia™ in subjects with ALDH2 deficiency, in November 2008.
Under terms of the agreement, Raptor will grant to Uni Pharma an exclusive license under all relevant patent applications, trademarks and future patents controlled by Raptor to market Convivia(TM) in Taiwan, with an option to expand the license to South Korea under the same terms. Uni Pharma will register Convivia(TM) for drug licensure for existing indications and will conduct a clinical trial and register Convivia(TM) for acetaldehyde toxicity resulting from ALDH2 deficiency. Uni Pharma will be responsible for marketing and sales activities for the commercialization of Convivia(TM) in the markets covered under the license agreement.
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