Aspen and BIT Pharma enter into an exclusive agreement for a Nicardipine-based Intracerebral Implant 

Dubai, United Arab Emirates - Aspen Healthcare FZ LLC (“Aspen Healthcare”), a subsidiary of Aspen Pharmacare Holdings Limited (“Aspen”), a global specialty and branded multinational pharmaceutical company, has entered into an exclusive licensing agreement with Austrian-based biotech company Brain Implant Therapeutics (BIT) Pharma (“BIT Pharma”), for a Nicardipine-based intracerebral implant aimed at preventing vasospasm, a complication in patients who have undergone subarachnoid hemorrhage surgery.

BIT Pharma has finalised Phase 2 of the clinical development. The agreement grants Aspen Healthcare exclusive rights to register and commercialise the innovative product in the Middle East, North Africa and Turkey.

“We are excited to announce our partnership with BIT Pharma, introducing a novel delivery platform and targeting an unmet need which will improve the health and quality of life of patients who have undergone subarachnoid hemorrhage surgery in the region. This agreement endorses our continuous drive towards innovation and also complements our vision to increase our range of unique treatment offerings,” said Daniel Vella Friggieri, Aspen Healthcare Regional CEO for the Middle East, North Africa & Turkey.

Jörg Breitenbach, Chief Executive Officer at BIT Pharma, said, “the collaboration between Aspen Healthcare and BIT Pharma is a great example of a partnership to help reach patients in need. Local delivery to the central nervous system can play a key role in developing treatments for patients. By using our AIMEX® technology to tailor local treatment medications, we are better able to generate targeted therapy options, ultimately improving patient care. We are pleased with the EMA’s decision to grant PRIME eligibility to our Nicardipine-based Intracerebral Implant. We look forward to applying the benefits available to us through PRIME as we continue to advance our program”.

Issued by:

Firas Nabulsi, Aspen Healthcare Marketing & Business Development Director

Tel: +971 4 363 4932 | FNabulsi@ae.aspenpharma.com

On behalf of:

Daniel Vella Friggieri, Aspen Healthcare Regional CEO for the Middle East, North Africa & Turkey

Tel: +971 4 363 4925 | dvella@ae.aspenpharma.com

 

About Aspen

Headquartered in Durban, South Africa, Aspen is a leading global specialty and branded multinational pharmaceutical company in both emerging and developed markets.

With an acknowledged presence of more than two decades in the pharmaceutical sector, Aspen improves the health of patients around the world through its high quality, affordable and effective healthcare solutions. The Group’s key business segments are Manufacturing and Commercial Pharmaceuticals comprising Regional Brands and Sterile Focus Brands that include Anaesthetics and Thrombosis products.

Aspen employs more than 9 000 people and has 69 established offices in over 50 countries. The Group operates 23 manufacturing facilities across 15 sites and holds international manufacturing approvals from some of the most stringent global regulatory agencies. Its manufacturing capabilities that are scalable to demand and cover a wide variety of product-types including steriles, oral solid dose, liquids, semi-solids, biologicals, and active pharmaceutical ingredients.

For more information visit www.aspenpharma.com

About BIT Pharma

BIT Pharma discovers and develops novel technologies for site-specific drug delivery to the central nervous system, in particular the brain, exploiting tailored drug delivery systems. Medicines that treat rare diseases in which significant unmet medical needs exist are a key focus area. BIT Pharma’s technology (AIMEX®) is based on proprietary manufacturing process for tailored drug release at the site of action. BIT Pharma has several ongoing development programs including oncology, pain and neurodegenerative applications using its NoSys® platform.

For more information visit www.bit-pharma.com