Stellar International Inc has signed a Licensing Agreement with Germany-based Pharmore GmbH for NeoVisc in Germany. NeoVisc is Stellar's proprietary therapy indicated as a replacement or replenishment (viscosupplement) for synovial fluid in patients suffering from osteoarthritis (OA).
"This agreement reflects the continuing success of our strategy to out-license our proprietary products into the global marketplace," stated Peter Riehl, Stellar's president and CEO. He added, "It also has the potential to generate multi-million dollar revenues for Stellar as Pharmore is well established and has the ability to launch NeoVisc successfully in Germany through its extensive and established sales and distribution network. The low cost and superior efficacy of NeoVisc will allow Pharmore to capitalize on alternative treatments in Germany, one of the larger viscosupplement markets in the world. We look forward to building a long-term working relationship with Pharmore."
Dr. Herbert Goepfert, CEO of Pharmore GmbH, remarked, "NeoVisc has an excellent reputation as a high quality viscosupplement that offers patients a more cost-effective alternative to current osteoarthritic treatments. NeoVisc represents an excellent niche opportunity for Pharmore and we are excited to add the product to our German portfolio, as well as to work together with the management team at Stellar on the international launch."
Stellar International has developed and is marketing three products in
Canada based on its core polysaccharide technology: NeoVisc, for the treatment of osteoarthritis, Uracyst and the Uracyst Test Kit, Stellar's patented technology for the diagnosis and treatment of Interstitial Cystitis (IC), an inflammatory disease of the urinary bladder wall.