COPENHAGEN, Denmark, April 23, 2015 /PRNewswire/ -- DanDrit Biotech A/S ("DanDrit Denmark"), the subsidiary of DanDrit Biotech USA, Inc. ("DanDrit"), (symbol :OTCQB:DDRT) a biotechnology company seeking to develop an approved vaccine for the treatment of colorectal cancer, announced that DanDrit and the Pharmaceutical Company Riyadh Pharma have signed a partnership agreement in Saudi Arabia.
This collaboration agreement advances DanDrit's goal to deliver an innovative portfolio of novel cell therapy therapeutics for conditions with a high unmet need. The specific aim of this agreement is to promote cooperation in the manufacturing and marketing of DanDrit's dendritic cell cancer vaccine, MCV in the Kingdom's Riyadh Pharma factory. MCV is a dendritic cell vaccine designed to prevent relapse of colon cancer after standard therapy.
Ryiadh Pharma will be responsible for the manufacturing of MCV in the Middle East. In addition, the two companies are committed to supply cancer vaccines by manufacturing in accordance with scientific standards and international quality standards applicable in this respect. The financial terms of the agreement have not been disclosed.
DanDrit was represented by NE Nielsen, Chairman of the board and Dr. Eric Leire, CEO and Riyadh Pharma by Dr. Walid Amin Al-Kayali, CEO of the Company.
Dr. Al-Kayali said " Ryiadh Pharma is pleased to be working with DanDrit to bring to the Middle East Immunotherapy and cell therapy technology. We believe that immunotherapy will be a major component of cancer treatment," confirming that this will serve the interest of the patient in principle, and will contribute toward making available cancer medicine in the Middle East.
NE Nielsen, Chairman of DanDrit praised this agreement and expressed his confidence in Riyadh Pharma and its great capacities and experiences in the Kingdom that made it the first choice of DanDrit to be partner in the Middle East. Mr. Nielsen said: "This strategic collaboration enlarges the scope of DanDrit with the potential to build expertise and synergies in the Middle East."
Dr. Eric Leire, CEO said " We are excited to be working with Ryiadh Pharma in this important area and look forward to combining our respective capabilities and expertise to successfully develop MCV for the treatment of colon cancer in the Middle East. We are pleased to be playing a pivotal role in delivering these cell therapies which have the potential to improve healthcare in the Middle East."
We are a biotechnology company focusing on VIVA a Phase III clinical trial for our lead compound MCV. MCV is an adjuvant immunotherapy that intends to prevent colon cancer recurrence after standard of care surgery and chemotherapy. Our expertise in producing dendritic cells from a patient's blood is combined with conventional production methods with a goal of making new and advanced vaccines for cancer patients.
Visit us at our website: www.dandrit.com.
SOURCE DanDrit Biotech A/S