PharmaMar, a leading biopharmaceutical company in the discovery and development of innovative marine-derived anticancer drugs, has announced a commercialization and distribution license agreement with Megapharm Ltd. for the marine-derived anticancer drug Aplidin (plitidepsin) in Israel and the territory known as the Palestinian Authority.

According to the agreement Megapharm will register Aplidin on behalf of PharmaMar and distribute the compound in both regions. PharmaMar will retain exclusive production rights and will supply the finished product for clinical and commercial use.

Aplidin is PharmaMar´s second most advanced anticancer drug which is currently under development for the treatment of multiple myeloma and angioimmunoblastic T-cell lymphoma. The Company announced in March 2016 that plitidepsin has shown positive results in a pivotal phase III clinical trial (ADMYRE) for multiple myeloma.

According to Luis Mora, managing director of PharmaMar´s Oncology Business Unit, "we are about to address our first strategic alliance with Megapharm for the commercialization of Aplidin formultiple myeloma in Israel and the territory known as the Palestinian Authority. Our commitment is to bring a novel and first-in-class therapy to patients in need."

Miron Drucker, chief excuetive officer of Megapharm, stated that "the agreement between PharmaMar and Megapharm offers a major advance for healthcare in our territory as Aplidin provides a novel mechanism of action for treating multiple myeloma; we hope to bring access to the most innovative treatments to our patients in Israel and the territory known as the Palestinian Authority".

Megapharm Ltd. is a leading Israeli private pharma marketing company, founded in 1989, exclusively representing a number of major American, European and Japanese pharmaceutical companies.