Sun Pharma, Moebius Medical sign exclusive global licensing deal
The Dollar Business Bureau
Indian MNC Sun Pharmaceuticals Industries Ltd and Israeli biotechnology company Moebius Medical have signed an exclusive international licensing agreement to further develop MM-II, a novel pharma candidate used in the treatment of osteoarthritis pain.
“Sun Pharma and Israel-based Moebius Medical have entered into an exclusive worldwide licensing deal to further develop MM-II, a novel pharmaceutical candidate for the treatment of pain in osteoarthritis,” Sun Pharma said in a BSE filing.
Commenting on the deal, Kirti Ganorkar, Global Head of Business Development, Sun Pharmaceuticals, said that the deal with Moebius Medical is a part of the company’s effort to create a branded product pipeline and improve the worldwide portfolio in pain medicines. We are motivated to further develop MM-II and are hoping to come up with new innovative treatments for patients suffering from pain of osteoarthrities.
CEO of Moebius Medical, Moshe Weinstein, said, “We are pleased and excited that a leading global pharma company like Sun Pharma which is well-positioned to optimally create and commercialise MM-II product, has chosen us as a partner for developing its specialty pipeline. The investment from Sun Pharma confirms the capability of our new innovative approach to come out with an effective pain relief for patients of osteoarthritis.”
According to the deal, Sun Pharma will provide funds to further develop the MM-II, a lead product of Moebius Medical, and undertake its worldwide commercialisation.
The Israeli company will conduct required pre-clinical studies, and will take up the responsibility to develop and manufacture the product through the completion of the Phase-II studies.
MM-II, which is an intra-articular bio-lubricant injection, is being developed to give symptomatic relief from mild-to-moderate pain in osteoarthritis.