On the 17th, Formosa Pharmaceuticals announced the exclusive licensing of its new drug APP13007 (0.05% Clobetasol Propionate Nanoemulsion Eye Drops) for commercial sales in the Israeli market to Tzamal Biopharma. This licensing agreement includes signing bonuses, development milestones, sales milestones, and other compensations over the contract period.

Formosa Pharmaceuticals stated that APP13007, which treats inflammation and pain following ocular surgery, uses the super potent steroid clobetasol propionate as its main ingredient. It is developed using Formosa Pharmaceuticals’ proprietary APNT nano-formulation platform. The drug received approval from the U.S. Food and Drug Administration (FDA) for market release on March 4th of this year.

Formosa Pharmaceuticals emphasized that Israel is one of the world's leading hubs for pharmaceutical and biotechnology innovation. The National Healthcare Basket provides an additional annual budget of $150 million to support the insurance coverage of new drugs. Israel, known for its comprehensive healthcare and insurance systems, has a high life expectancy of 83.49 years and a significant demand for cataract and other ocular surgeries.

The Tzamal Group, with over 50 years of history, is one of Israel’s primary suppliers of innovative pharmaceuticals. In ophthalmology, Tzamal not only introduces and distributes drugs from major companies like Bausch & Lomb but also leads the market in surgical laser and ultrasound equipment. With an annual revenue of $56 million and steady growth, Tzamal anticipates that APP13007 will soon obtain the necessary drug approvals and complete market entry, enhancing its comprehensive portfolio in the field of ocular surgery.

Resource (mandarin): 台新藥與以色列Tzamal Biopharma 簽署APP13007授權協定