DGAP-News: CO.DON AG / Key word(s): Market launch
05.06.2019 / 10:00
The issuer is solely responsible for the content of this announcement.
CO.DON AG signs term sheet with BIOVIIIx for the distribution of Spherox in Italy
Berlin/Teltow, 05 June 2019 – CO.DON AG is in advanced talks with BIOVIIIx SRL concerning the distribution in Italy of Spherox, a cell-based pharmaceutical for which central EU marketing authorisation has been granted. The parties signed a final term sheet on 29 May 2019 governing the key elements of their planned collaboration and a distribution agreement that has still to be finalised on this basis. BIOVIIIx SRL is intended to be the exclusive distribution partner for Spherox in Italy. If the distribution agreement is signed, initially for a period of five years, CO.DON AG expects to receive contractually agreed cash flows on a sliding annual scale, regardless of sales volumes. The Executive Board sees the signing of the term sheet as another important step for further EU-wide market penetration and so the implementation of the company’s strategy.
Ralf Jakobs, executive board member and spokesman of CO.DON AG: “The successful signing of this term sheet will enable us not only to distribute our product to Italian patients in the foreseeable future, but also to cover appr. 61 % of the European market by volume with our contract portfolio. That means we are consistently applying our USP of central EU marketing authorisation. We intend to apply the same dedication to opening up the remaining European markets in the near future. Under these circumstances, and based on our partner selection strategy, we look to the future with confidence. Its market penetration and absolute drive to succeed make BIOVIIIx a partner that fits all our criteria and with whom we share a vision: regenerative medicine is the way forward in healthcare.”
CO.DON AG develops, produces and distributes autologous cell therapies for the minimally invasive repair of cartilage defects. The product being marketed is a cell therapy product for the minimally invasive treatment of cartilage damage in the knee joint that uses only the patient’s own cartilage cells (“autologous chondrocytes”). CO.DON’s method is currently used in over 200 clinics in Germany and more than 14,000 patients have already been treated. In July 2017 CO.DON AG received central EU marketing authorisation for this product from the European Medicines Agency (EMA). The shares in CO.DON AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227). Executive Board: Ralf M. Jakobs (Spokesman), Tilmann Bur (COO).
Further information is available from www.codon.de
Investor Relations and Press Contact:
Matthias Meißner, M.A.
05.06.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange|
|EQS News ID:||819667|
|End of News||DGAP News Service|