London. 6 March 2017. 07:00 AM GMT. Norgine B.V. announced today that it has entered into an agreement with Noventure S.L., under which Norgine will distribute GELSECTAN® in Spain, Portugal and Andorra.
GELSECTAN ® is a Class IIa CE marked medical device used as a treatment for irritable bowel syndrome (IBS) with diarrhoea. Diarrhoea is one of the symptoms often associated with irritable bowel syndrome. GELSECTAN® is available in capsules for oral use.
IBS affects up to 7.8% of the total Iberian population (Spain, Portugal and Andorra) and more than 100,000 new cases are reported every year.[i] Women are twice likely as men to develop IBS.[ii]
Peter Martin, COO at Norgine said: “We are delighted to be able to offer GELSECTAN®, a new treatment option to patients who suffer from irritable bowel syndrome (IBS) associated with diarrhoea, a condition which can have a significant impact on quality of life.”
He added: “This recent partnership demonstrates our commitment to sell further specialised innovative products through our well established infrastructure.”
Luciano Conde, CEO of Noventure said: “GELSECTAN® is an innovative product that will help to improve the lives of patients across the Iberian Peninsula. We are delighted to partner with Norgine, a recognised leader in the treatment of gastrointestinal diseases with a well-established presence in Spain and Portugal.”
Norgine anticipates launching GELSECTAN® in Iberia in the second half of 2017. Noventure will manufacture GELSECTAN®.
Financial terms are not disclosed.
Notes to Editors:
About Norgine
Norgine is a European specialist pharmaceutical company that has been established for over 100 years. In 2015, Norgine’s total revenue was EUR 320 million and the company employs over 1,000 people.
Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, payers and patients. Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth.
Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns a R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France.
For more information, please visit www.norgine.com
In 2012, Norgine established a complementary business Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.
NORGINE and the sail logo are trademarks of the Norgine group of companies.
About Noventure
Noventure is a start-up enterprise, headquartered in Barcelona, specializing in licensing medical devices to partner companies. Noventure’s products are natural polymers based on a proprietary barrier technology that reinforces the epithelia, thereby restoring its functionality. Noventure’s areas of interest are gastrointestinal, paediatrics, urogynaecology, allergy and dermatology
Noventure aims to build exclusive, long-term partnerships rooted in a shared understanding of the medical need and the marketing opportunity in each country, nurtured by close communication and teamwork. Currently Noventure has a network of partners and distributors that commercialize its products in more than 40 countries. For more information visit www.noventure.com.
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[i] Miguel a Montoro. Gastroenterologia y hepatologia. Problemas comunes en la practica clinica. 2012
[ii] Mearin et al. Med Clin (Barc.) 2007; 128 (9):335-43