SOM Biotech signs a letter of intent with Megapharm for
SOM biotechnology sign a letter of intent with Megapharm market SOM3355 in Israel and the Palestinian Authority
Barcelona, ââSpain, 15 December 2021. SOM Biotech (âSOMâ or the âCompanyâ), a clinical-stage biopharmaceutical company with proprietary AI-based drug discovery technology focused on orphan neurological diseases, today announces that it has signed a letter of intention with Megapharm Ltd. (“Megapharm”), a leading Israel-based pharmaceutical company, regarding a possible exclusive distribution agreement for the commercialization of SOM3355 to treat the symptoms of chorea in Huntington’s disease (“HD”) in Israel and the United States. ‘Palestinian Authority.
Under the terms of the agreement, Megapharm would be responsible for the registration and marketing of SOM3355 in Israel and the Palestinian Authority and SOM Biotech would be responsible for manufacturing, product supply, insurance and control. quality, regulatory support and maintenance of intellectual property.
Raul Insa, Cthief Eexecutive ohagent by SOM Biotech, noted: “SOM3355 has already demonstrated a positive Phase 2a results showing that it has the potential to treat symptoms of chorea in HD and ones we are preparing to start the Phase 2b test in the first quarter of 2022, it’s great to have Megapharm already interested in partnering with us to market SOM3355 in the region. Megapharm has particularly relevant experience in the marketing of drugs for HD and we seek to usee its specific knowledge and network of physicians as we pursue the clinical development of SOM3355. “
Miron Drucker, CEO of Megapharm, noted: “We are very happy to have engaged in discussions with SOM Biotech As it concerns the distribution and marketing of SOM3355. SOM3355 has the potential to improve the lives of patients with chorea symptoms in HD and we are committed to work with SOM biotechnology To advance this by the clinic and to the HD community in Israel and the Palestinian Authority. “
For more information on SOM Biotech, please contact:
Consilium Strategic communication
Amber Fennell, Lindsey Neville, Giulia Lasagni
About SOM Biotech
SOM Biotech (www.sombiotech.com) – established in 2009 – is a biopharmaceutical company based in Barcelona, ââSpain. SOM has a broad product candidate portfolio that includes drugs for orphan neurological diseases including TTR amyloidosis, Huntington’s disease, tardive dyskinesia, phenylketonuria, Niemann-Pick C, glioblastoma and Parkinson’s disease. . The company is committed to accelerated discovery of therapies using proprietary computational technology based on artificial intelligence (SOMAI PRO) and develops strategic partnerships with major research centers and pharmaceutical companies. The Company has received partial funding for a number of its programs from the Spanish Ministries of Science and Innovation (CDTI) and Industry (ENISA).
On SOMAI PRO
SOMAI PRO is the company’s proprietary AI-powered drug discovery technology. The Company is successfully using technology to identify effective drugs for the treatment of a specific disease, to discover new mechanisms of action and new applications for a drug, and predict the toxicity of compounds, as well as the molecular scaffolds for new chemical entities. The main strength of the technology is its high success rate, with two of the Company’s programs having already achieved positive Phase 2a results. Moreover, while other AI-based approaches use methods based on data mining, structural similarity or target structure, SOMAI PRO uses molecular fields, allowing an increased success rate, with results obtained in the shortest possible time and significantly reducing the costs associated with drug discovery.
SOM3355 is potentially the only safe VMAT2 (-) unrelated to serious adverse events such as depression, suicide, parkinsonism or neuroleptic syndrome. The Company intends to initiate a Phase 2b in the first quarter of 2022.
Megapharm Ltd. is a leading Israeli private pharmaceutical marketing company, founded in 1989, exclusively representing a number of major US, European and Japanese pharmaceutical companies. Megapharm provides its partners with a full set of business capabilities, including registration, market access, sales and marketing. Megapharm has demonstrated dynamic sales growth by developing a strong corporate presence and expertise in selected therapeutic areas (i.e. oncology, hematology, CNS, orphan and metabolic drugs) and a proven track record in securing national reimbursement and including its products in health funds in Israel. Additional information is available at: www.megapharm.co.il