CrystalGenomics signs agreement for Daewoong to commercialize Acelex in Korea
Korean biopharma company CrystalGenomics has signed a sales and marketing agreement with Daewoong Pharmaceutical to commercialize Acelex (polmacoxib) in Korea.
Daewoong will secure exclusive rights in Korea to sell and market Acelex, a 2mg capsule nonsteroidal anti-inflammatory drug for osteoarthritis. CrystalGenomics will receive an upfront payment and milestone payments from Daewoong. The companies will share profits from the sales of Acelex, which is expected to capture at least 10% of the arthritis market in Korea.
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