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Under the exclusive agreement, Hikma will commercialize products in Rakuten Medical’s pipeline for cancer treatment in the Middle East and North Africa region.
Rakuten Medical, a US-based biotechnology company specializing in cell targeting therapies, announced on Aug. 10, 2023 that it has signed an exclusive licensing and commercialization agreement with Hikma Pharmaceuticals (Hikma), a UK-based pharmaceutical company that serves the Middle East and North Africa (MENA) region as well as Europe.
Under the agreement, Hikma gains an exclusive license to commercialize products in Rakuten Medical’s oncology pipeline to all of Hikma’s MENA markets. Rakuten Medical’s oncology pipeline was developed using its proprietary photoimmunotherapy technology platform, Alluminox. These therapies are not currently approved in MENA for investigational or commercial use. Outside of Japan, they are investigational treatments, according to a company press release.
“We are already developing Alluminox treatment in several countries and regions, including the United States, Japan, Taiwan, and India, and this agreement further accelerates our global expansion. With Hikma’s strong regional footprint and medical expertise, we expect the Alluminox platform to make significant progress in MENA,” said Mickey Mikitani, co-CEO of Rakuten Medical, in the company press release.
“This agreement allows us to work with an excellent global partner to strengthen our growing portfolio in oncology and biotechnology. Most importantly, this allows us to bring a potentially transformative technology to cancer patients in MENA, helping to put better health within reach, everyday,” said Mazen Darwazah, executive vice-chairman and president of MENA, Hikma, in the release.
Source: Rakuten Medical