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Cosmo Oil, SBI Alapromo Of Japan And German Drug Co. Establish New JV

This article was originally published in PharmAsia News

Executive Summary

Japan's Cosmo Oil and SBI Alapromo, along with Germany's Medec GmbH, have signed a deal to establish a joint venture to develop new drugs using aminolevulinic acid. To be established in June, the new company ALA Pharma will have €25,000 in capital investment. SBI Alapromo and Medec will each take a 50 percent stake. Medec obtained approval from the European Medicines Agency for Giolan (5-aminolevulinic) for visualization of malignant tissue during surgery for brain tumors. Cosmo Oil owns 15 percent of SBI Alapromo's total shares. (Click here for more - Japanese language



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