TEL AVIV, Israel, December 14 /PRNewswire/ -- Sigma Pharmaceuticals Ltd.
and Neurim Pharmaceuticals Ltd. announce Licensing Agreement for Circadin(R)
- prolonged release melatonin for primary insomnia in Australia.
Circadin(R), currently approved for use in 33 countries, is a novel sleep
aid indicated for treatment of primary insomnia. The latest approval in
Australia by the TGA, was based on clinical studies showing positive effects
on both sleep induction, sleep quality, and most importantly,
day-time-functioning as well as quality of life. The trials also show that
there are no signs of development of dependency.
Sigma Pharmaceuticals Ltd. will launch Circadin(R) in Australia in 2010.
Under the terms of the agreement, Neurim receives an upfront payment and an
ongoing share of revenues. Neurim will be responsible for manufacturing
"Circadin(R) is the first and only approved melatonin based ethical drug"
says Prof. Nava Zisapel, Chief Scientific Officer of Neurim Pharmaceuticals
Ltd. Melatonin is a naturally occurring hormone produced by the pineal gland
and it has a pivotal role in the regulation of circadian rhythms and sleep.
Endogenous melatonin levels decrease with age and may contribute to the
common complaint of poor sleep quality seen amongst the middle aged and
"Circadin(R), an IP protected formulation which essentially mimics the
normal nocturnal melatonin profile, improves sleep quality and morning
alertness and facilitates sleep onset, is a very valuable alternative to
traditional sedative hypnotics. Most other sleep aids share a number of
drawbacks, such as dependency, amnesia and residual drowsiness, unlike
Circadin(R)," says Dr. Eran Schenker, Medical Director at Neurim
"We are pleased to license Circadin(R) and introduce a new class
treatment for insomnia into Australia and New Zealand," says Elmo de Alwis,
Sigma Pharmaceuticals Managing Director. "We are confident that Sigma, the
first Asia Pacific partner to Neurim, will be able to realise the full
potential of Circadin(R) for the benefit of Australian patients."
There are plans in place to register Circadin(R) in the New Zealand, US,
Asia-Pacific and Latin America, and Neurim Pharmaceuticals is currently
seeking strategic partners for marketing and distributors for additional
markets around the globe.
Circadin(R) (http://www.Circadin.info) is the first and only IP-protected
prolonged-release melatonin and the first and only melatonin product to be
approved as an ethical drug by health authorities. In clinical trials
involving thousand of patients with primary insomnia, it has been
demonstrated that administration of Circadin(R) improves sleep quality and
morning alertness and facilitates sleep onset in patients aged 55 or over.
Currently approved for commercialization in 33 countries, Circadin(R) is
undergoing plans for registration in New Zealand, the US, Asia-Pacific and
Latin American markets.
About Neurim Pharmaceuticals
Neurim Pharmaceuticals (http://www.neurim.com) is based in Israel with
offices in Switzerland and the UK. The company was founded in 1991 and is
focused on drug discovery and development of treatments for age-related
disorders, primarily in the central nervous system (CNS). Neurim
Pharmaceuticals is seeking strategic partners.
About Sigma Pharmaceuticals
Sigma Pharmaceuticals Limited (ASX:SIP) is a leading Australian
manufacturer, wholesaler and distributor of prescription, over-the-counter
and generic pharmaceutical products to pharmacies throughout Australia. Sigma
was originally founded by two Melbourne pharmacists in 1912 and merged with
Arrow Pharmaceuticals in December 2005. In 2008, Sigma acquired Orphan
Australia which is dedicated to providing highly specialised pharmaceuticals
for the treatment of serious or life threatening conditions in Australia.
For More information:
Eran Schenker, MD
Medical Director & Corporate Business Development
Neurim Pharmaceuticals Ltd.
Tel: +972-3-7684914 ; Cell: +972-52-6689944
Elmo de Alwis
Sigma Pharmaceuticals Limited
SOURCE Neurim Pharmaceuticals LTD