Race reaches agreement with TrueMed for Bisantrene sales in Israel

Race Oncology is very pleased to announce that it has executed a Named Patient Program (NPP) distribution and sales agreement in Israel with TrueMed Ltd.

According to Race, TrueMed is a pharmaceutical distributor with experience in driving NPPs in Israel.

Under the agreement, TrueMed will have the exclusive right to sell and distribute RAC’s chemotherapy drug Bisantrene in Israel.

“We believe that Israel could be an important contributor to future global NPP sales of Bisantrene,” said Race CEO, Peter Molloy.

“TrueMed has a unique approach and expertise in NPP, along with a firm belief in the opportunity for Bisantrene in AML, based on their own market research in Israel,” said Mr Molloy.

Race and TrueMed will share the value of all Bisantrene NPP sales in Israel, with 60% of sales turnover paid to Race and 40% retained by TrueMed.

According to TrueMed’s owners and co-CEOs, Shmulik Berkovich and Arie Koren, “TrueMed is proud to partner with Race Oncology to provide access to Bisantrene for patients who need it.”

They added: “Bisantrene’s long and robust development program makes it a potential game-changer and a significant option for those patients deemed appropriate by their treating physicians.”

TrueMed will source Bisantrene exclusively from Race’s global distribution partner Durbin, in the UK. TrueMed will be responsible for gaining the approval of the Israeli Ministry of Health (IMOH) for local NPP distribution of Bisantrene, a requirement in order to start NPP sales.

The agreement will operate for an initial period of three years, after which it can be terminated with nine months’ notice by either party.

Originally developed by Lederle in the 1980s for breast cancer, Bisantrene is being repurposed by RAC for the treatment of acute myeloid leukaemia (AML), a deadly blood cancer that develops in a patient’s bone marrow.

Race CEO Peter Molloy said Bisantrene had an important role to play in the contemporary treatment of relapsed/refractory AML.

About TrueMed
TrueMed is a prominent rare disease and specialty care company in Israel, providing a complete local distribution and marketing solution for pharmaceutical partners with unique therapies in specific therapeutic areas. TrueMed stands out in the local market as an innovative company and the partner of choice for innovators with cutting-edge therapies such as Sarepta, Amicus, Lucane, AOP Orphan and other (http://www.truemedtx.com).