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Formosa Pharmaceuticals announces a licensing agreement with Tabuk Pharmaceuticals, for the commercialization of clobetasol propionate ophthalmic suspension for the treatment of inflammation and pain after eye surgery

TAIPEI, May 9, 2024 /PRNewswire/ — TaiwanFormosa Pharmaceuticals (“Formosa”, 6838.TWO), today announced that the company has entered into an exclusive licensing agreement with Tabuk Pharmaceuticals Manufacturing Company (“Tabuk”), for the exclusive rights to commercialize propionate ophthalmic suspension clobetasol, 0.05%. (APP13007), an innovative patented medicine for the treatment of inflammation and pain following eye surgery in key regions of the Middle East And North Africa (MENA). Clobetasol propionate ophthalmic suspension 0.05% (APP13007) was approved by the United States Food and Drug Administration (FDA) on March 42024. The licensing agreement includes initial, marketing and sales stages, with additional considerations throughout the term of the agreement.

The active ingredient in APP13007 is the superpotent corticosteroid clobetasol propionate and is derived from Formosa Pharma’s proprietary APNT™ nanoparticle formulation platform. The new formulation allows for a convenient and simple dosing regimen (twice daily for 14 days) while providing rapid and sustained relief of inflammation and pain, which in Phase 3 trials has been shown to statistically and clinically superior to its corresponding placebo (p < 0.001). APP13007 will have significant potential in the MENA region for the eye surgery market.

“We are pleased to establish this partnership with Tabuk Pharmaceuticals, the largest private Saudi company and one of the most important pharmaceutical companies in the MENA region. We are confident that Tabuk’s experience, broad network and commitment to innovative and value-added medicines will bring APP13007 to patients recovering from eye surgery,” said Erick Co, President and CEO of Formosa Pharmaceuticals.

Ismail ShehadaCEO of Tabuk Pharmaceuticals, said: “At Tabuk, we are delighted to partner with Formosa to introduce this innovative medicine for patients of Saudi Arabia and other MENA countries, which strengthens our leadership position in the region and our role in providing unique health solutions and improving people’s well-being. »

About Formosa Pharmaceuticals, Inc.

Formosa Pharmaceuticals, Inc. (6838.TWO) is a clinical-stage biotechnology company primarily focused on the areas of ophthalmology and oncology. The Company’s proprietary nanoparticle formulation technology (APNT™), through which APP13007 was developed, improves the dissolution and bioavailability of APIs for topical, oral and inhalation administration. The resulting formulations exhibit high uniformity, purity and stability, thereby enabling the use of poorly soluble or extremely potent drug agents that might otherwise face insurmountable challenges in delivery and tissue penetration. targets. For more details on Formosa Pharma and APNT™, visit www.formosapharma.com.

About Tabuk

Established in 1994, Tabuk Pharmaceuticals is a leading Saudi pharmaceutical company with a regional presence in the Middle East And North Africa (MENA). Tabuk Pharmaceuticals develops, manufactures, markets and distributes various branded generics, in addition to manufacturing pharmaceutical products for renowned international partners at its manufacturing sites. Saudi Arabia, as part of its continuous efforts to cover the needs of patients by providing high quality medicines. Tabuk Pharmaceuticals is a major player in the pharmaceutical sector with its four state-of-the-art manufacturing sites located in Tabuk and Damam in the Kingdom, as well as in Sudan And Algeria, orchestrated by a team of more than 2,400 employees. Tabuk Pharmaceuticals reaches patients in 17 countries around the world. Middle East And North Africa, with future plans to expand its presence in the region. https://www.tabukpharmaceuticals.com

SOURCE Formosa Pharmaceuticals Inc.