Vanda Pharmaceuticals Inc. (Vanda), a biopharmaceutical company focused on the development and commercialization of products for central nervous system disorders, announced its exclusive license agreement with Argentina-based Biotoscana Farma S.A., a wholly owned affiliate of Biotoscana International, based in Bogota, Colombia, for the commercialization of Fanapt in Argentina.
"We are very excited to achieve this step on the path towards making Fanapt available in Argentina and we are very pleased to have Biotoscana as our commercial partner," said Mihael H. Polymeropoulos, M.D., Vanda's chief executive officer. "This marks another important milestone for the Fanapt brand as we continue to grow our presence with Fanapt in Latin America," added Dr. Polymeropoulos. Biotoscana's co-founder and CEO, Ricardo MunozRidau, stated, "We are very pleased to partner with Vanda in Argentina with Fanapt. Our recently submitted regulatory filing for marketing authorization for Fanapt marks the first step in the process towards the commercial launch of Fanapt in Argentina."
Under the terms of the agreement, Biotoscana will seek regulatory approval for Fanapt in Argentina. Vanda will supply Biotoscana with Fanapt drug product for packaging and sale and Biotoscana's CNS specialty sales force will promote Fanapt to psychiatrists in Argentina.
Biotoscana International ("Biotoscana") is a privately owned company formed in Colombia in 1995. Through a number of strategic company acquisitions and growth through global licensing partnerships, today Biotoscana is a multinational pharmaceutical company with operating affiliates throughout Latin America, including Colombia, Chile, Argentina, Venezuela, Peru, Ecuador, Central America and the Caribbean.
Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of products for central nervous system disorders.