Acrux (ACR) today announced a marketing and distribution agreement for its unique transdermal estradiol spray product Ellavie™ in South Korea. Ellavie™ will be marketed by Dream Pharma Corporation, which is a wholly owned subsidiary of the South Korean diversified conglomerate, Hanwha Group. Under the exclusive distribution agreement, Acrux will receive fees on signing, on confirmation of marketing authorisation and on market launch. In addition, Acrux will receive an ongoing distribution fee based on net sales of Ellavie™. Dream Pharma is responsible for obtaining marketing authorisation in South Korea, utilising the product dossier previously approved by the US Food and Drug Administration (FDA).Ellavie™ is currently marketed in the US as Evamist™ and is under evaluation by the regulatory authorities in Australia and Sweden.
“Dream Pharma Corporation is a successful and rapidly growing pharmaceutical company in South Korea, with the strong backing of its parent company the Hanwha Group” said Acrux CEO Dr Richard Treagus. “We are very pleased to be partnering Ellavie™ in our first Asian market, building on the recently announced deals in Southern Africa and Switzerland. We anticipate entering into further distribution agreements for Ellavie™ in other pharmaceutical markets around the world”.
Acrux is an Australian drug delivery company, developing and commercialising a range of patient-preferred, patented pharmaceutical products for global markets, using its innovative technology to administer drugs through the skin. Acrux has one product, Evamist™ (brand name Ellavie™ outside the USA) to treat menopause symptoms, marketed by its licensee in the USA. It has licensed US rights for Evamist™ to KV Pharmaceutical and has appointed distributors for Ellavie™ in other markets around the world. It has also licensed its technology to Eli Lilly and Company for veterinary healthcare products and US rights for Testosterone MDTS to VIVUS.