DUBLIN, November 8, 2023 (Newswire.com) – Nemysis is pleased to announce that it has entered into a Strategic Alliance Agreement (the “Agreement”) with Bruno Farmaceutici S.p.A. for the mutual advancement of the portfolio and sales of each company.
Nemysis Limited and Bruno Farmaceutici S.p.A. entered into the Agreement, under which both companies will cooperate on their strategic goals, and support the mutual development of their businesses, including through the expansion of their portfolios and international development. The alliance facilitates the mutual collaboration and provision of services, strengthening and broadening the capabilities of either company.
As part of the Agreement, Nemysis Limited grants Bruno Farmaceutici S.p.A. an option for a non-exclusive sales and marketing right for E40 within the Italian market, on terms to be agreed.
Danilo Casadei-Massari, Nemysis’ Chairman and CEO, states: “We are excited to be working with Bruno Farmaceutici S.p.A. for the mutual benefit of our businesses, and for the possibilities the joint capabilities and expertise will bring. We are also delighted by the interest shown in our E40 product, and the recognition of its commercial potential to address the gluten intolerance and sensitivity market. This agreement builds on the success of the option agreement entered into with Faran for the Greek market, earlier this year”.
Vincenzo Bruno, Chief Executive Officer of Bruno Farmaceutici S.p.A. remarks: “We are pleased to have partnered with an entrepreneurial and innovative company such as Nemysis Limited, and to be able to work with its team to strengthen our ability to source additional products for our portfolio, as well as identify opportunities for international expansion of our operations and our product portfolio. With the benefits that our Italian sales network and experience can bring to Nemysis, this agreement represents a great symbiotic opportunity for real strategic collaboration that will deliver tangible results”.
E40 is a recombinant protein for the degradation of gluten and its immunogenic peptides. It possesses all the required attributes to be an effective oral enzymatic therapy and act as a first-line treatment, whilst also demonstrating excellent safety, in particular as it is not systemically absorbed. As a medical device, E40 will be price-competitive and accessible, not requiring a medical prescription.
About Bruno Farmaceutici S.p.A.
Founded in 1996 as a spin-off from Aventis with a portfolio of medical specialities and a sales force of 42 medical representatives, Bruno Farmaceutici has grown its presence in the national market to become one of the most highly regarded pharmaceutical companies in Italy. Bruno Farmaceutici has steadily increased its turnover over the years to reach €110 million in 2022 and a sales force of over 120 medical representatives.
Source: Nemysis Limited