Pro-Pharmaceuticals, www.pro-pharmaceuticals.com – the tip of the spear in the fight against cancer and fibrosis via revolutionary therapeutics based on Galectin receptors, reported that the Company’s leading candidate DAVANAT® shipped its first commercial order ($200k value) to Colombia-based pharmaceutical giant PROCAPS S.A. today.
CEO of PRWP, Theodore D. Zucconi, Ph.D., hailed the shipment as a “milestone” for the Company and stressed the efforts taken by PRWP to ensure that external variables related to such “first-time, international shipments of pharmaceutical products” were solidified.
PROCAPS received exclusive rights earlier this year to market/sell DAVANAT in Columbia and Latin America, accepting responsibility for the approval process, distribution, marketing and sales of DAVANAT in Columbia as part of the agreement.
Zucconi praised PROCAPS as a partner for commercializing the breakthrough DAVANAT product, which disrupts Galectin receptors activity on cancer cells and has shown impressive results in concert with chemotherapy drug 5-flourouracil (5-FU).
Patient survival was extended by roughly 45%, according to Phase II data from a colorectal cancer study.
DAVANAT is based on PRWP’s powerful Glycoscience technology platform and thus also ameliorates the toxicity of chemotherapy agents substantially, resulting in improved quality of life, as demonstrated empirically by the over 100 patients administered to date.
Zucconi sagely noted that strategic importance of PROCAPS for future access throughout Latin American markets.
An established direct operator of a network spanning ten Latin American countries and over 30 more, PROCAPS has a solid footprint for exporting pharmaceutical/support products, with a superb track record for successfully launching new items.
This deal is a shrewd move for PRWP, whose shareholders are poised to rake in the rich rewards from DAVANAT, which is expected to receive regulatory approval in Q1 2011.
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