SK Biopharmaceuticals, Eurofarma Enter into Licensing Agreement for Cenobamate in Latin America
SK Biopharmaceuticals, Co., Ltd., announced that it has entered into a licensing agreement for Eurofarma, a Brazilian pharmaceutical company with business in over 20 countries, to develop and commercialize cenobamate in Latin America for the treatment of epilepsy. Cenobamate is approved and available in the United States and Europe for the treatment of partial-onset seizures in adults.
Under the terms of the agreement, SK Biopharmaceuticals has granted Eurofarma the exclusive rights to develop and commercialize cenobamate in Latin America. In return, SK Biopharmaceuticals will receive an upfront payment of US$15 million and will be eligible to receive future milestones of up to US$47 million, in addition to royalties on sales generated in Latin America.
The agreement reinforces the company’s commitment and capabilities in developing medicines for central nervous system disorders and providing treatment options for the epilepsy communities in this region and around the world. Cenobamate has been previously launched in the United States and Europe, and SK Biopharmaceuticals completed partnerships for cenobamate in Japan, China, Canada, and Israel. With this agreement, SK Biopharmaceuticals will now be present in four continents: North America, Europe, Asia and Latin America.
“We are extremely pleased to partner with Eurofarma, which has a proven track record in the region and a widespread network to drive development and commercialization of cenobamate in Latin America,” said Jeong Woo Cho, PhD, President and CEO of SK Biopharmaceuticals. “This partnership reaffirms our commitment to provide innovative treatments to people with epilepsy. We will continue to broaden our footprint around the world to support the patient community with cenobamate.”
Epilepsy is one of the most common neurological diseases, affecting over 6 million people in Latin America.1 According to the Pan American Health Organization (PAHO), the regional office of the World Health Organization (WHO) for the Americas, over half of the people living with epilepsy in Latin America and the Caribbean do not receive appropriate treatment.2 Collaborating with Eurofarma, a Brazilian pharmaceutical company that covers 100% of Latin America and has, for 2022, a projected investment in innovation of more than BRL500 million, SK Biopharmaceuticals aims to bring its innovative product widely to the region.