Venter Pharma and NovaMedica Sign Agreement to Commercialize New Lactose Intolerance Test in Russia
NovaMedica LLC, a Russian pharmaceutical company, and Venter Pharma SL, a Spanish company, developing innovative diagnostic systems, have signed a partnership agreement that grants NovaMedica exclusive rights to commercialize a new technology for the diagnosis of lactose intolerance, LacTEST®, in Russia and the Community of Independent States (CIS).
LacTEST® is a unique
NovaMedica plans to conduct a clinical development program on LacTEST® and to apply for regulatory approval of the product in Russia. Sales are projected to begin in 2015. Venter Pharma retains the rights to commercialize the product in countries outside the CIS worldwide.
“Lactose intolerance is one of the major conditions in current gastroenterology and diagnosing the disease rapidly and accurately is of paramount importance given that other conditions present similar symptoms. Over three million people have been clinically diagnosed with lactose intolerance in Russia, according to some reports,” said Fabrice Egros, Chief Operating Officer of NovaMedica. “Partnering with Venter Pharma contributes to NovaMedica’s strategy of making advanced innovative therapies readily available to patients in Russia and the CIS.”
“We believe that LacTEST will be a breakthrough in the diagnosis of lactose intolerance and is going to change the way in which the condition is viewed by both healthcare professionals and patients,” said Mr. José Luis Martín, managing director of Venter. He added, “We are excited to be introducing LacTEST in this new market because we firmly believe in our international expansion. With this agreement in Russia, we continue growing our business as we have already done in Spain and Germany.”
Lactose intolerance is the inability to digest lactose, the main sugar in milk and all milk products. It is linked to lactase deficiency and provokes a number of GI symptoms including diarrhea, abdominal pain and nausea.
NovaMedica is a Russian pharmaceutical company established in 2012 by DRI Holdings Limited, a portfolio company of Domain Associates LLC, and Russian investment corporation RUSNANO, which implements government policy on the development of hi-tech industries. The company’s strategy is aimed at localizing production of a wide range of new medicines and technologies on the Russian market, including screening and registration, and the creation of innovative GMP-standard manufacturing facilities.
For more information, please visit www.novamedica.com
* * *
Venter Pharma SL was founded in 2003 upon the development work carried out in the Universidad Autónoma de Madrid and Consejo Superior de Investigaciones Científicas (CSIC). Since then, the company has developed LacTEST® a method for the evaluation of lactose intolerance. Preclinical development, clinical trials and the scale up of the product have been completed successfully. Venter Pharma will continue developing products to help professionals in the diagnosis and follow up of lactose intolerance and other digestive pathologies.
For more information, please visit www.venterpharma.com