Nxera Pharma Co. Ltd, previously known as the Sosei Group, confirmed that its subsidiary, Nxera Pharma Korea, has entered into an exclusive agreement with Handok Inc. The deal allows for the supply and distribution of PIVLAZ (clazosentan sodium) 150 mg solely in South Korea.
PIVLAZ has the distinction of being the first approved drug in South Korea devised for preventing Cerebral Vasospasm, a condition affecting patients with Aneurysmal Subarachnoid Hemorrhage. The drug is expected to hit the South Korean market in early 2025, as per the announcement made by Nxera Pharma.
The agreement stipulates that Nxera Pharma Korea will offer the drug product to Handok at an agreed-upon price. Under the deal, Handok will have exclusive rights and full responsibility for promotion, marketing, sales, and distribution of PIVLAZ within South Korea. Nxera Pharma will also receive a one-time upfront payment from Handok when the agreement is signed and qualifies for subsequent payments triggered by commercial milestones, plus revenue from product supply.
