iX Biopharma, a Singapore-listed specialty pharmaceutical company with expertise in drug delivery systems, has worked consistently on developing a wide range of medications, closing deals and partnerships, and improving investments in medical technology to capture a share of the multibillion-dollar global drug market.
On Nov 24 last year, the company announced an outlicensing agreement for its Wafermine drug worth more than $300 million (excluding royalties) with Nasdaq listed Seelos Therapeutics. Under the agreement, Seelos will provide the regulatory, clinical development and US market knowledge to register and commercialise Wafermine and other products related to ketamine — a medicine used to relieve pain.
Dr Janakan Krishnarajah, iX Biopharma’s COO cum chief medical officer, explains why Seelos was chosen. “Seelos has a portfolio of ketamine drugs, which means that they know the drug well, and know how to develop it and export it,” says Krishnarajah in an interview with The Edge Singapore. “They also had a strategy to build up ketamine as a franchise, which was important.”