Acelex, the nation’s 22nd novel drug treating degenerative arthritis, is soon to be exported to Brazil under a long-term agreement, sources said Tuesday.
Its maker, CrystalGenomics, has been negotiating with pharmaceuticals in China, South America, Southeast Asia, Russia, and Europe to sell the treatment.
The sources said the company is in the final stage to complete a deal to supply the medicine to Brazil the first.
Recently, the Korean biotech firm received the early option from Aptose Biosciences for the global rights to develop and commercialize CG-806, a new leukemia treatment. With the early option, CrystalGenomics’ net profit amounted to 1.4 billion won ($1.2 million) in the first half.
If the company receives an upfront payment for a Brazil deal, its earnings are likely to be in good shape this year.
Observers are also paying attention to the company’s Acelex deals in countries other than Brazil, as well as other drug candidates.
CrystalGenomics is known to be discussing conditions for a license-out agreement with a U.S. firm over CG-549, an antibiotics candidate against super bacteria.
The company also registered a patent on the oral formulation of CG400549 last month. With better drug compliance, the biotech firm hopes to raise the bargaining power in a license-out deal.
The company also expanded indications of CG-746, a candidate molecular targeted anticancer therapy, by confirming its effectiveness in chronic renal fibrosis in a pre-clinical trial.
“The deal over the Acelex export is progressing as planned,” said an official at CrystalGenomics, declining to elaborate.