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Innlegg av: inva (21.08.17 08:21 ), lest 1428 ganger
Ticker: NAVA

NAVA - new long term agreement with bene-Arznemittel

Oslo, August 21, 2017 - Navamedic ASA (OSE:

NAVA), the Norwegian medtech and pharmaceutical products company, today announced it has entered into a long term agreement with bene-Arznemittel GmbH (bene) for the Nordic launch and commercialisation of ELMIRON®, the only EU approved oral medication used to treat adults with bladder pain syndrome.

"We are very pleased to announce the partnership with bene-Arzneimittel for distribution of the prescription medicine, ELMIRON (pentosan polysulfate sodium), in the Nordics. ELMIRON is used to treat adults with moderate to severe pain related to bladder pain syndrome and Interstitial Cystitis and is the only oral prescription medicine of its kind to be approved by the EU. We believe the partnership opens up a significant market opportunity and revenue potential, as we can leverage a well-established position the Nordic market and a proven track record within the field of urology. The ten-year agreement is also in line with our strategic approach of further strengthening our pharmaceutical products portfolio and entering solid, long-term partnerships," says Tom Rönnlund, Chief Executive Officer of Navamedic.

ELMIRON® (pentosane polysulfate sodium) is used to treat adults with bladder pain syndrome or discomfort associated with Interstitial Cystitis (IC), a condition which causes pain in the pelvic area and a frequent, urgent need to pass urine. Bladder pain and IC is estimated to affect 18 for every 100,000 in the European Union, with 90% of patients being women over the age of 40. In patients with small bleeds and lesions in the bladder wall, treatment with ELMIRON® led to a significantly greater number of patients having an overall improvement in symptoms.

The medication, which is already well-established in the US market, is the only oral medication approved by the European Medicines Agency (EMA) to treat bladder pain syndrome. Under the agreement, Navamedic will have long term exclusive licensing-, supply- and distribution rights in Sweden, Denmark, Norway, Finland and Iceland. Navamedic expects to  introduce the product during the first half of 2018.
"Bladder pain syndrome is a distressing condition for which no medicines have previously been approved in the EU. Treated with ELMIRON, more patients will have an overall symptoms improvement and the risk of bleeding can be minimised with
appropriate precautions.

We believe this long-term agreement with bene is a great opportunity for Navamedic to expand our pharmaceutical products portfolio with a product with significant market potential," says Rönnlund. 
For further information, please contact:
Tom Rönnlund, CEO, Navamedic ASA

Telephone: +46 727 320 321