Norgine and Noventure to commercialise Gelsectan® in Spain, Portugal and Andorra

Barcelona,  March 6, 2017 – Norgine B.V. and Noventure S.L. announce today that they have entered into an agreement by which Norgine will distribute Noventure’s Gelsectan^® in Spain, Portugal and Andorra.

Gelsectan is a Class IIa CE marked medical device used to restore the intestinal function in patients suffering from alterations due to irritable bowel syndrome (IBS) with relapsing or chronic diarrhoea, a symptom often associated with IBS, by relieving associated symptoms such as pain, abdominal tension, diarrhoea, bloating and flatulence.

Gelsectan is available in capsules for oral use.

IBS is a disorder characterised by abdominal discomfort associated with altered bowel function. It is estimated that 10-15 per cent of the global population has IBS, while it affects up to 7.8 per cent of the total Iberian population (Spain, Portugal and Andorra), where more than 100.000 new cases are reported every year¹. Women are twice as likely as men to develop IBS².

Peter Martin, COO at Norgine said: “We are delighted to be able to offer Gelsectan, a new treatment option, to patients who suffer from irritable bowel syndrome associated with diarrhoea, a condition which can have a significant impact on quality of life. This recent partnership demonstrates our commitment to sell further specialised innovative products through our well established infrastructure.”

Luciano Conde, CEO of Noventure said: “Gelsectan is an innovative product that will help to improve the quality of life of patients across the Iberian Peninsula living with IBS. We are delighted to partner it with Norgine, a recognized leader in the treatment of gastrointestinal diseases with a strong presence in Spain and Portugal.”

Norgine anticipates launching Gelsectan in Iberia in the second half of 2017.

Noventure’s business model is based on offering exclusive commercial rights for selected regions to its distribution partners. Gelsectan is being partnered by Noventure across Europe and worldwide, with Spain and Portugal being the first European countries where it will be available through a distributor.

Financial terms are not disclosed.

About Noventure

Noventure is a start-up enterprise, headquartered in Barcelona, specializing in licensing medical devices to partner companies. Noventure’s products are natural polymers based on a proprietary barrier technology that reinforces the epithelia, thereby restoring its functionality. Noventure’s areas of interest are gastrointestinal, paediatrics, urogynaecology, allergy and dermatology. Noventure aims to build exclusive, long-term partnerships rooted in a shared understanding of the medical need and the marketing opportunity in each country, nurtured by close communication and teamwork. Currently Noventure has a network of partners and distributors that commercialize its products in more than 40 countries. www.noventure.com

About Norgine

Norgine is a European specialist pharmaceutical company that has been established for over 100 years. In 2015, Norgine’s total revenue was €320 million and the company employs over 1,000 people. Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, players and patients. Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth. Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns an R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France. For more information, please visit www.norgine.com

In 2012, Norgine established a complementary business, Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.

NORGINE and the sail logo are trademarks of the Norgine group of companies.
References

1. Miguel a Montoro. Gastroenterologia y hepatologia. Problemas comunes en la practica clinica. 2012
2. Mearin et al. Med Clin (Barc.) 2007; 128 (9):335-43

Gelsectan is a Class IIa medical device and fulfils all European legislative requirements. For further information, refer to Gelsectan instructions. CE0476.