JORDAN – Jordan’s Hikma Pharmaceuticals has entered into an exclusive agreement with Rakuten Medical to commercialize Rakuten’s proprietary Alluminox platform in markets in the Middle East and North African countries.
As part of this agreement, Hikma has an exclusive license to commercialize products in Rakuten Medical’s pipeline using its photoimmunotherapy technology platform, Alluminox, in all its MENA markets.
Rakuten Medical is a global biotechnology company developing and commercializing precision, cell-targeting therapies based on its proprietary Alluminox platform.
In a press release, Mickey Mikitani, Co-Chief Executive Officer of Rakuten Medical, stated: “We are already developing Alluminox treatment in several countries and regions, including the United States, Japan, Taiwan, and India, and this agreement further accelerates our global expansion.”
Ground-breaking results from pre-clinical studies indicate Rakuten’s Alluminox platform’s positive and significant impact on cancer patients.
The Alluminox platform is an investigational technology platform based on a cancer therapy called photoimmunotherapy.
The drug component of the platform consists of a targeting moiety conjugated with one or more dyes leading to selective cell surface binding.
The device component consists of a light source that locally illuminates the targeted cells with light to transiently activate the drug.
Researchers found that the Alluminox platform significantly induced rapid and selective cell killing and tumor necrosis. However, Alluminox therapies have not yet been approved outside of Japan.
As a result, the exclusive licensing and commercialization agreement with Hikma will build on Rakuten’s strategic plan to increase value on the global market for treating cancers.
This joint effort underpins Rakuten’s commitment to its mission to conquer cancer by delivering its innovative treatments as quickly as possible to as many patients as possible all over the world.
With existing offices in the United States, Japan, the Netherlands, Taiwan, Switzerland, and India, the global biotechnology company has an ambitious plan to expand its footprint and business in the MENA region.
“With Hikma’s strong regional footprint and medical expertise, we expect the Alluminox platform to make significant progress in the MENA,” outlined Mickey Mikitani.
On the other hand, the exclusive licensing and commercialization agreement with Rakuten will allow Hikma to further cement its position as an excellent global partner.
Rakuten is developing the Alluminox platform as a technology consisting of a drug, device, and other related components.
To this end, Hikma will leverage its expansive pharmaceutical manufacturing capabilities and network to supply Rakuten’s Alluminox platform across the MENA region.
Hikma plans to increase access to Rakuten’s Alluminox platform in the MENA cancer therapeutics market, and in turn, improve health outcomes.
The pharmaceutical company already has a local presence in multiple countries across North America, the Middle East, North Africa, and Europe.
Nonetheless, Hikma is looking to expand in Africa over the next two to three years, by building its own plant or by making acquisitions of assets valued at up to US$300 million.
On his part, Mazen Darwazah, Hikma Executive Vice Chairman and President of Hikma for MENA markets, said: “The exclusive licensing and commercialization agreement with Rakuten Medical allows us to work with an excellent global partner to strengthen our growing portfolio in oncology and biotechnology.”
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