West Perth-based medical company Eastland Medical Systems Ltd has won manufacturing and distribution rights for an anti-malaria drug to Asia, India and the Pacific Region, after signing an agreement with UK company Proto-Pharma Ltd.
West Perth-based medical company Eastland Medical Systems Ltd has won manufacturing and distribution rights for an anti-malaria drug to Asia, India and the Pacific Region, after signing an agreement with UK company Proto-Pharma Ltd.
Eastland's South African subsidiary Eastland Medical Systems South Africa Ltd and Star Medical (Botswana) Ltd signed a Sub-Saharan Africa distribution agreement for the drug in December.
The full text of a company announcement is pasted below
Eastland Medical Systems Ltd will manufacture and distribute a new, anti-malaria treatment to Asia, India and the Pacific region following the signing of an Agreement today with UK Scientific Research & Development company Proto-Pharma Ltd.
Eastland CEO Dermot Patterson said clinical trials of the treatment would begin in Malaysia within three months as part of the regulatory approvals process. A recently conducted clinical study of the new treatment in Nigeria found a 100 per cent effective success rate in all patients tested.
"Eastland is currently considering several offshore manufacturing facilities and following regulatory approvals, we expect sales and distribution to commence in 2008-09," Mr. Patterson said.
The Agreement follows a Contract signed in December between 65 per cent-held Eastland subsidiary Eastland Medical Systems South Africa (Pty) Ltd (EMSSA) and Star Medical (Botswana) Limited, which grants EMSSA the exclusive distribution of the new treatment in Sub-Saharan Africa.
"These two deals are expected to generate combined direct revenues of up to $40 million in the second year of production, increasing to $80 million by Year 4 as the treatment increasingly gains market and Aid subsidiary support.
"Eastland has now secured access to approximately 97 per cent of the world's malariainfected countries and their combined 485 million reported cases of malaria.
"This Agreement is a key part of Eastland's overall strategy to build a strong position within the anti-malaria treatment arena by accessing major international markets through global partnerships. Further investment and expansion negotiations are progressing well," Mr. Patterson said.
About the Anti- Malaria Treatment
The unique treatment uses a new method of administration and a formula that offers a number of significant advantages over current tablet style medications. Traditional anti-malaria tablets are in many cases ineffective in the treatment of children suffering from malnutrition and diarrhea.
Particularly effective in children, the treatment attacks the malaria parasite at far greater speed than the conventional tablets, reducing the need for continued hospitalisation and resulting in significant cost savings to Governments and relief organisations.
