An Australian manufacturer of a prostate cancer imaging agent has struck a deal with Danish company Wiik Pharma to distribute the product across the Nordics.
Melbourne-based Telix Pharmaceuticals announced the deal for the distribution of the product, named Illuccix, which will see Wiik Pharma as its sole trader across Denmark, Finland, Norway and Sweden for a period of three years from the national approval date in each country.
In 2020, prostate cancer was one of the most frequently diagnosed forms of cancer in the Nordic region, with that year alone seeing approximately 27,000 new cases.
Yacoub Amin, CEO of Wiik Pharma said, “This commercial partnership with Telix marks a major step towards achieving Wiik Pharma’s vision to improve the diagnosis and treatment management of patients with difficult-to-detect and treatment-requiring diseases.
“We have high expectations for the collaboration with Telix, not just for Illuccix but also for other upcoming diagnostics and therapeutics in their investigational pipeline.”
GlobalData’s Medical Device Intelligence Centre shows that Telix currently has two other products in its pipeline in the indication of prostate cancer, with Illuccix itself currently marketed for tumour detection in five countries, including Australia.
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At the same time, a report from GlobalData’s Pharmaceutical Intelligence Centre details how in 2018 the European market for prostate cancer stood at around $2bn, with that figure forecasted to grow to $4.3bn by the end of 2028.
In August of this year, Telix dosed the first patient in China as part of its Phase III registration trial of Illuccix, and the firm said it is cooperating with regional partner Grand Pharmaceutical Group.
Raphaël Ortiz, Telix CEO for Europe, the Middle East and Africa added: “We are pleased to team up with Wiik Pharma and look forward to bringing gallium-based PSMA-PET imaging to men in need in the Nordics, an important region for Telix.”