Neuraxpharm and Pharmathen enter into strategic co-development agreement to develop long-acting injectable therapies

New therapies will allow patients greater choice and flexibility in the control of CNS disorders

BARCELONA, Spain, DÜSSELDORF, Germany, and ATHENS, Greece, Dec. 12, 2024 /PRNewswire/ -- Neuraxpharm Group (Neuraxpharm), a leading European specialty pharmaceutical company focused on the treatment of central nervous system (CNS) disorders, and Pharmathen, one of the largest pharmaceutical companies in Greece and leaders in the development and supply of long-acting injectable (LAI) therapies, announce a strategic alliance to co-develop new long-acting injectable therapies within the psychiatry field under Pharmathen's long-acting therapeutic technologies (LATT) program.

Under this agreement, Neuraxpharm will have exclusive rights to commercialise these therapies in Europe, and in countries outside of Europe where the group has a direct presence, while Pharmathen will have exclusive rights for North America and all other countries not covered by Neuraxpharm.

Pharmathen's LATT program uses its proprietary technologies to replace traditionally available short acting dosage forms, such as tablets or injectables, into longer acting injectable therapies to address unmet needs of prescribers and patients. LATT support better long-term control of symptoms, provide greater patient compliance, and improved convenience in the treatment of patients.

Pharmathen, with a proven track record in the development and launch of LAI products globally, will be the technological, manufacturing and supply partner. Neuraxpharm with its long-proven commercialisation expertise for CNS products in Europe will register and market the products across Europe and other direct Neuraxpharm markets. Neuraxpharm is now established in more than 20 European countries, with affiliates in Latin America, the Middle East, and a global network of distributors.

Commenting, Dr. Jörg-Thomas Dierks, CEO, said: "Today's announcement reflects our ongoing commitment to bringing innovative solutions to CNS patients in Europe and beyond. These are well established therapies, but we are bringing them to the market in a new format, which will offer patients greater flexibility and control in how they manage what are often challenging conditions." 

Dimitris Kadis, Group CEO of Pharmathen, said: "At Pharmathen, our mission is to improve patients' lives through innovation and quality. This collaboration is an important step toward achieving that goal by enhancing access, convenience, and choice for our patients as we bring our long-acting therapeutic technology products to more prescribers and CNS patients worldwide."

About the Neuraxpharm Group

Neuraxpharm is a leading European specialty pharmaceutical company focused on the treatment of the central nervous system (CNS), including both psychiatric and neurological disorders. It has a unique understanding of the CNS market built over 35 years.

Neuraxpharm is constantly innovating, with new products and solutions to address unmet patient needs and is expanding its portfolio through its pipeline, partnerships, and acquisitions.

The company has c.1,000 employees and develops and commercializes CNS products through a direct presence in more than 20 countries in Europe, two in Latin America, one in the Middle East, and globally via partners in more than 50 countries. Neuraxpharm is backed by funds advised by Permira.

Neuraxpharm manufactures many of its pharmaceutical products at Neuraxpharm Pharmaceuticals (formerly Laboratorios Lesvi) in Spain.

For more information, please visit https://www.neuraxpharm.com

About Pharmathen

Founded in 1969, Pharmathen has evolved into one of the largest vertically integrated companies developing innovative pharmaceutical formulations. With top-level Research and Development in cutting-edge technologies, Pharmathen today works on one of the most complex and advanced portfolios, consisting of more than 40 products, focusing on Injectable Sustained Release Products, Controlled Release Formulations, and Ophthalmic products. Its products are manufactured in the company's facilities in Greece, which are approved by the US Food and Drug Administration (FDA) and the European Union. Pharmathen's highly diversified product portfolio, with more than 90 commercial products, is sold to 250 cooperating clients, providing access to patients in more than 90 countries worldwide. 

For more information, please visit https://www.pharmathen.com

SOURCE Neuraxpharm