-Expands Indications for VAL-083 and Creates Near-term Revenue Opportunity for Del Mar in Asia-
-VAL-083 Active Against TKI Resistant Phenotypes-
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Del Mar Pharma recently announced that they have expanded their existing supply agreement with Guangxi Wuzhou Pharmaceutical Company, a subsidiary of publicly traded Guangxi Wuzhou Zhongheng Group Co., Ltd (SHG 600252). We believe the agreement is a positive development for Del Mar as they now have access to worldwide commercial rights for VAL-083 and a near-term revenue opportunity in China.
In China, VAL-083, otherwise known as “DAG for Injection,” is approved by SFDA for chronic myelogenous leukemia (CML) and lung cancer indications. Although sales of VAL-083 in China are currently small, Del Mar has developed new data that could potentially re-position VAL-083 in order to rapidly and substantially grow the market for the drug. Currently, Guangxi Wuzhou Pharmaceuticals owns the rights to manufacture and sell VAL-083 in China for these indications.
Existing VAL-083 Supply Agreement Expanded to Worldwide Collaboration. The new strategic collaboration announced between Del Mar and Wuzhou expands their existing supply relationship to include commercial rights for VAL-083 in China and the RoW. Per the agreement, the companies will work together to ensure the VAL-083 product specifications meet global standards in order to accelerate international development and regulatory approval. Now Wuzhou will be the exclusive supplier of DAG for Injection and Del Mar will be responsible for development and commercialization. Prior to this, Del Mar had a clinical supply agreement with Wuzhou for an ongoing Phase 1/2 clinical trial in refractory glioblastoma multiforme (GBM) currently being conducted by Del Mar in the US. Now Del Mar has global commercial rights to VAL-083 through the collaboration and Wuzhou is positioned to be the exclusive commercial supplier.