SEOUL, BERLIN, BOSTON and MUMBAI, India, Nov. 20, 2013 /PRNewswire/ -- Ci-Co Healthcare and Piramal Imaging announce the companies have entered into a strategic partnership and exclusive licensing agreement whereby Ci-Co Healthcare will obtain market authorization from the Korean Health Authorities and commercialize the PET amyloid imaging agent florbetaben F18(*)( )in South Korea. Ci-Co Healthcare has assigned the manufacturing and supply of florbetaben F18 to DuChemBio, a market-leading radiopharmacy network in Korea.
(Logo: http://photos.prnewswire.com/prnh/20130507/NE09018LOGO )
According to the Ministry of Health and Welfare, nearly one in every ten or 541,000 senior citizens in Korea suffer from Alzheimer's disease, a condition that slowly destroys memory and thinking skills. This number was up 8.74 percent in 2010, and if the trend continues is expected to surpass one million in 2024.(1)
Beta-amyloid neuritic plaques in the brain, which researchers believe to be important biomarkers for early detection of Alzheimer's disease, are clumps of sticky, microscopic protein that build up in the space around nerve cells. Piramal Imaging's PET amyloid agent florbetaben F18 is an injectable drug that in conjunction with PET/CT or MRI/PET scanners identifies beta-amyloid plaques in the human brain.
"Piramal Imaging is committed to building a global presence in nuclear medicine and making florbetaben F18 available to patients around the world. Ci-Co Healthcare shares Piramal Imaging's dedication and we look forward to a strong partnership that will allow both companies to achieve its goals," said Dr. Ludger Dinkelborg, Member of the Board, Piramal Imaging SA.
About Piramal Imaging SA
Piramal Imaging SA, a division of Piramal Enterprises, Ltd., was formed in 2012 with the acquisition of the molecular imaging research and development portfolio of Bayer Pharma AG. By developing novel PET tracers for molecular imaging, Piramal Imaging is focusing on a key field of modern medicine. Piramal Imaging strives to be a leader in the Molecular Imaging field by developing innovative products that improve early detection and characterization of chronic and life threatening diseases, leading to better therapeutic outcomes and improved quality of life. For more information please go to http://www.piramal.com/imaging.
About Piramal Enterprises Ltd.
Piramal Enterprises is one of India's largest diversified companies, with a presence in pharmaceuticals, financial services and healthcare information management sectors. Piramal Enterprises had consolidated revenues of over $650 million in FY2013. In the pharmaceutical space, PEL is one of leading custom manufacturing players globally, has presence in the global critical care segment with a portfolio of inhalation and injectable anesthetics and its OTC business is ranked no. 7 in India. PEL is also engaged in drug discovery & research and has strong pipeline of development products. In the financial services space, PEL has a real estate focused PE fund - Indiareit and a NBFC that is focused on lending to the real estate and education sectors. PEL's healthcare information management business, Decision Resources Group, is a leading provider of information-based services to the healthcare industry.
About Ci-Co Healthcare Co., Ltd.
Ci-Co Healthcare, based in Seoul, Korea, was established in 1993. For the past 20 years Ci-Co Healthcare has partnered with the laboratory medicine departments of more than 300 hospitals across the country, supplying them with in-vitro diagnosis devices, including immunology and biochemistry, on-site emergency inspection systems, and Siemens laboratory automation systems. For more information, please visit http://www.cicohealthcare.com.
About DuChemBio Co., Ltd.
DuChemBio Co., Ltd., established in 2002, is a leading company operating the largest radiopharmacy network (8 cyclotrons) in Korea, and is currently installing a cyclotron center in Manila, Philippines to supply a variety of radiopharmaceuticals. Having the confidence that "the true meaning of healthcare corresponds with early diagnosis as well as timely treatment based on early and accurate diagnosis," DuChemBio continues to focus on diagnosis-related businesses with the acquisition of an in-vitro diagnosis distribution company in Korea in April 2012, and with the plan to expand its business to East Asian markets as a company specialized in radiopharmaceuticals.
(*)Florbetaben F18 is an investigational PET amyloid imaging agent currently under review by the U.S. Food and Drug Administration and the European Medicines Agency.
(1 )Alzheimer's Disaster. The Korean Times. May 5, 2013. http://www.koreatimes.co.kr/www/news/opinon/2013/06/202_135074.html
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SOURCE Piramal Imaging SA