Alkem Laboratories shares gain on antifungal drug deal with Biosergen AB

Once the clinical trials are successfully completed in India, Biosergen and Alkem aim to expand its use for similar patient groups in the US and EU via pivotal trials.

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Shares of Alkem Laboratories traded higher on September 25 after the company entered into a co-development and licence pact with Biosergen AB for the development and commercialisation of its novel anti-fungal drug.

Biosergen AB is developing the novel polyene macrolide antifungal product, BSG005, for the treatment of severe and difficult-to-treat invasive fungal diseases. After the successful completion of two Phase-I studies, the first patient trial will be conducted in India on patients with severe fungal disease who are intolerant or resistant to treatment with Amphotericin B.

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Alkem will manage the first clinical patient trial, which is expected to start immediately after the regulatory approval.

Once the clinical trials are successfully completed in India, Biosergen and Alkem aim to expand its use for similar patient groups in the US and the EU through pivotal trials. Alkem has 144 ANDAs, two manufacturing sites and two R&D sites in the US.

Alkem will invest in the clinical development of BSG005 and will be granted an exclusive license to market it in India.

The company had appointed Dr Vikas Gupta as chief executive officer of the company with effect from September 22.

Earlier in this month the company had informed about the Income Tax Department conducting a survey at some of its offices and subsidiaries.