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Magle Group enters collaboration with Sirtex Medical to support the international commercialization of EmboCept® S DSM 50 µm
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
Magle Group (Nasdaq Stockholm First North Growth Market: MAGLE) today announces the establishment of a collaboration and exclusive worldwide distribution agreement with the global medical device company Sirtex Medial pertaining to its chemoembolization product EmboCept® S DSM 50 µm. The main purpose is to accelerate internationalization, drive growth in new geographic areas, and support the expansion of Magle Group’s product portfolio in this important medical field.
Sirtex Medical is a global medical device company focused on improving the quality and longevity of patients' lives by providing innovative treatment solutions. The company has over 300 employees and maintains offices and manufacturing facilities in the U.S., Australia, Germany, and Singapore and offers its SIR-Spheres® Y-90 resin microspheres in multiple jurisdictions. EmboCept® S DSM 50 µm has an excellent commercial fit with Sirtex’s current product offering.
Magle Group is experiencing a growing international demand for EmboCept® S DSM 50 µm, and the collaboration with Sirtex will facilitate a more powerful and expedited expansion of its commercial footprint. The broader geographical reach will make EmboCept S DSM 50 µm a treatment option for patients in several countries. Further, the parties will establish a joint development plan to increase the product range in the field of embolization by utilizing Magle Group’s DSM platform.
“We are delighted to team up with Sirtex to unleash the full commercial potential of EmboCept S DSM 50 µm, our proprietary product for chemoembolization of inoperable liver and lung tumours. Sirtex has a well-established sales force and is also well-equipped to support our continuous efforts to expand Magle Group’s DSM-based product range in the area of embolization. This collaboration will also allow Magle Group to focus more on clinical research and innovation to meet further patient needs, “says Justin Pierce, CEO of Magle Group.
The collaboration with Sirtex is expected to have a significant beneficial effect on Magle Group’s net revenues from EmboCept® S DSM 50 µm, albeit the fact that Sirtex will be recording sales of the product from 2 October 2023 will impact Magle Group’s top-line revenues in the short-term perspective.
“Our partnership with Magle Group allows us to combine our resources and expertise to bring this novel treatment to patients with liver and lung cancer in Europe and beyond. The collaboration aligns perfectly with our mission to improve patients' lives through innovative oncology solutions,” says Kevin R. Smith, CEO of Sirtex.
EmboCept® S DSM 50 µm is a CE-marked medical device for vascular occlusion of liver and lung tumors. The product is based on Magle Group’s proprietary polymer technology, DSM (Degradable Starch Microsphere), and is currently approved for sale in Europe, Argentina, Singapore, and Malaysia.