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FutureChem and Moltek Sign Exclusive License Agreement
  • Date2020/06/26 14:41
  • Hit 140
SEOUL, KOREA – December 19, 2018
 
FutureChemCo., Ltd. (“FutureChem”) announces a license agreement granting MoltekSağlıkHizmetleri A.Ş (“Moltek”) exclusive Turkish rights to Alzavue®, a first in Korea and the world's fourth radioactive diagnostic agent for the diagnosis and early detection of Alzheimer's dementia.
 
FutureChemwill transfer the proprietary technology for local production of Alzavue® in Turkey. Moltek will be responsible for marketing, distribution and sales in Turkey, upon completed registration of the product.
 
After registration approval of Alzavue® by Turkish Ministry of Health, FutureChem annually receives half of sales from Moltekduring the contractual period of 10 years. The total forecast of sales agreed by both companies are USD 20.9 million, of whichFutureChem is expected to receiveUSD 10.5 million in royalties.
 
“We are very excited at the prospect of bringing an innovative product to market that would provide a new safe and effective diagnostic option for the many Turkish people who suffer from Alzheimer’s dementia,”says KadirÖzsu, Moltek’s CEO.
 
"We will advance into the European market by taking advantage of our entry into the Turkish market," says Dae Yoon Chi, CEO of FutureChem.
 
About FutureChem Co., Ltd
FutureChem was founded in 1999 and is headquartered in Seoul, South Korea. The company offers to produce and sells radiopharmaceuticals for diagnosing cancers, and Parkinson’s and Alzheimer's diseases; and automation modules and disposable goods, such as disposable cassettes, reagent kits, and radio-caps. It also provides peptide-based radiopharmaceuticals for radio-metal chelation and click reaction; linkers for bio-conjugation using copper-free/mediated click reaction; fluorinated compounds; and custom synthesis services, as well as develops and produces positron emission tomography (PET) and single photon emission computed tomography (SPECT) precursors and chemicals for radiopharmaceuticals. In addition, the company is involved in the research and development of radioisotope labeling technology; development of PET drugs, and automation devices, as well as performs government research project and academic-industrial collaboration services.
 
About MoltekSağlıkHizmetleri A.Ş
Moltekhas been established in 2007 and launched radiopharmaceutical production in 2009. Moltek is a pioneer in nuclear medicine market in Turkey and supplies radiopharmaceuticals across the nationwide as well as neighboring countries in Europe.Moltek delivers best quality of products and services by utilizing advanced technologies and expert staff in their field. For that matter, Moltek aims to be world’s leading brand. Moltek produces radiopharmaceuticals, which compromise international standards, used for diagnosis and treatment. It provides reliable and high quality service by using Good Manufacturing Practice (GMP).