Algorae Pharmaceuticals (ASX: 1AI) has signed a distribution partnership with Indian multinational Dr Reddy’s Laboratories to supply chemotherapy medicine capecitabine to the Australian market.
Under the terms of the deal, Dr Reddy’s will supply batches of the 500-milligram film-coated tablets to Algorae, with the first shipment to arrive next month.
The agreement complements Algorae’s ++high-throughput validation trial++ being conducted at the Peter MacCallum Cancer Centre in Melbourne, using the AlgoraeOS Version 1.0 platform to evaluate oncology-focused predictions across the brain, pancreas, breast, and prostate cancer cell lines.
Affordable and Innovative Medicines
Established in 1984, Dr Reddy’s develops and commercialises active pharmaceutical ingredients, generics, branded generics, biosimilars, and consumer health products.
Partnering with Dr Reddy’s will provide Algorae with the opportunity to expand its commercial presence and establish a strategic platform for partnerships with other pharmaceutical manufacturers.
“This distribution arrangement with Dr. Reddy’s for capecitabine represents our ongoing focus on oncology product commercialisation and provides us with a clear pathway to near-term revenue,” Algorae chief commercial officer Vishal Shah said.
“We are delighted to enter into an agreement with such a reputable partner and look forward to positioning our company for long-term growth and future product collaborations.”
Generic Oncology Agreement
Algorae has previously entered into a ++licencing agreement++ with Indian pharmaceutical manufacturer Sakar Healthcare to launch five generic oncology medicines onto the Australian and New Zealand markets.
The products will be marketed under the Algorae brand to meet the needs of the combined market, which analysts value at approximately $10 million per annum.
Algorae representatives recently conducted a site visit to Sakar’s manufacturing facilities in Ahmedabad as part of the due diligence process.
