Laboratorios SALVAT, S.A. (SALVAT) announced today that it has granted Kwang Dong Pharmaceutical Co., LTD (Kwang Dong) an exclusive license to develop, register and market Tarafenacin in South Korea for overactive bladder syndrome (OAB).
Under the terms of the agreement, Kwang Dong will develop and commercialize Tarafenacin in South Korea. The terms of the agreement include an upfront payment and additional milestone payments by Kwang Dong to SALVAT, and SALVAT will supply the drug to Kwang Dong.
Tarafenacin is a new potent and selective M3 muscarinic antagonist for the treatment of OAB which has completed Phase IIa clinical trials. Tarafenacin is the most potent and selective M3 vs M2 yet developed. In earlier Phase I clinical trials, Tarafenacin was proven to be safe both in healthy young and elderly volunteers. In the Phase IIa clinical trial in OAB patients, Tarafenacin showed an excellent efficacy and tolerability profile. This profile is expected to give Tarafenacin an improved efficacy and tolerability, increasing the benefit/risk ratio compared to current treatments.
"We are excited about this agreement and we are delighted to have Kwang Dong, a leading player in the South Korean market, as a partner dedicated to develop Tarafenacin. We are pleased to establish long-term relations with Kwang Dong and consider this agreement to be a first step in the realization of SALVAT's strategy to partner Tarafenacin for advanced development and marketing worldwide" said Mr. Javier Peris, President of SALVAT.
"Overactive Bladder is one of most common diseases in elderly people and with population aging, this OAB market has been growing more than 15% annually for the past few years in Korea. Nevertheless, there are unmet needs for optimal drug efficacy and better compliance and Kwang Dong believe that Tarafenacin has a good potential to succeed in satisfying these unmet therapeutic needs or improving the side effects," stated Mr. Sung Won Choi, President of Kwang Dong.
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