LAUSANNE, Switzerland and CHENNAI, India, April 10, 2013 /PRNewswire/ -- Shasun Pharmaceuticals Ltd, a global pharmaceutical contracting organization offering world class capabilities and facilities to provide services and manufacturing at every scale across the whole drug development lifecycle and Debiopharm Group™ (Debiopharm) a Swiss-based global biopharmaceutical group with a focus on the development of innovative prescription drugs that target unmet medical needs, entered into a licensing agreement for the manufacturing and commercialization of Huperzine-A.
Huperzine-A is a potent and reversible acetylcholinesterase inhibitor and clinical studies have shown a significant improvement in memory deficit and cognitive performance in patients with Alzheimer's disease. Huperzine-A is commercially available through Shasun Pharmaceuticals.
According to the terms of the agreement, Shasun Pharmaceuticals Ltd will be able to use the Debiopharm technology for the manufacture of synthetic Huperzine-A under GMP quality conditions and commercialize it in pharmaceutical and nutraceutical markets.
The manufacturing technology involves a 10-stage chemical synthesis process including a complex chiral organometallic step as a key transformation of the Huperzine-A structure. The synthesis is a result of a joint collaboration between Shasun's research centers in Chennai and the UK.
This technology was recently recognized and awarded at the North East of England Process Industry Cluster (NEPIC), Innovation Awards in 2012. NEPIC is a stand-alone company created to represent the 500+ Pharmaceutical, Biotechnology, Specialty Chemical, Polymer & Rubber, Petrochemical & Commodity Chemical companies based in the North East of England.
Commenting on the agreement, Dr. Mauvernay, President and founder of Debiopharm Group™ said, "We are delighted to continue our collaboration with Shasun Pharmaceuticals Ltd. Clinical studies have demonstrated the drug to enable significant improvement in both memory deficit and cognitive performance and we are excited to have the opportunity to add value to this technology while contributing to improve people's quality of life."
Dr. Michel Spagnol, President of Shasun Pharmaceuticals Ltd added, "We are very proud of this achievement, resulting from a very close collaboration with Debiopharm. It underlines our commitment to delivering cutting-edge science in all our processes through our global research and development network."
About Debiopharm Group™
Debiopharm Group™ (Debiopharm) is a Swiss-based global biopharmaceutical group of companies with a focus on the development of prescription drugs that target unmet medical needs. The group in-licenses, develops and/or co-develops promising biological and small molecule drug candidates having reached clinical development phases I, II or III, as well as earlier stage candidates. It develops its products for global registration and maximum commercial potential. The products are out-licensed to pharmaceutical partners for sales and marketing. Debiopharm is also active in the field of companion diagnostics with a view to progressing in the area of personalized medicine. Debiopharm independently funds the worldwide development of all of its products while providing expertise in pre-clinical and clinical trials, manufacturing, drug delivery and formulation, and regulatory affairs.
For more information about Debiopharm Group™, please visit: www.debiopharm.com.
About Shasun Pharmaceuticals Limited
Shasun Pharmaceuticals Ltd is a global pharmaceutical contracting organization offering world class capabilities and facilities to provide services and manufacturing at every scale across the whole drug development lifecycle. The company offers formulation and generic manufacturing services at its India sites together with a contract research and manufacturing service for APIs (Active Pharmaceutical Ingredients) in India and the UK. For more information about Shasun Pharmaceuticals Ltd please visit www.shasun.com
Shasun Pharmaceuticals Ltd Cautionary Note Regarding Forward-Looking Statements: Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Shasun Pharmaceuticals Limited may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the regulatory bodies and its reports to shareholders. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.
Debiopharm S.A. Contact
Tel.: +41 21 321 0111
Shasun Pharmaceutical Limited
Mr. S. Hariharan, Chief Financial Officer
Tel.: +91 44 4344 67 23
Additional Media Contacts
Tel: +44 (0)20 7379 5151
For additional information on the technology
Business Development Director
In New York
Russo Partners, LLC
Martina Schwarzkopf, Ph.D.
Tel: +1 212-845-4292
Fax: +1 212-845-4260
Citigate Dewe Rogerson
Gavin Desa / Monish Shah
Tel.: +91 22 6645 12 27 / 12 40
SOURCE Debiopharm Group