Polaris (TPE:6550) unit Polaris Pharmaceuticals signed an exclusive license and distribution deal with Bioprofarma Bago for its cancer drug, ADI-PEG 20, according to a Friday Taiwan Exchange filing.
Shares gained about 3% recently in Taiwan.
The drug is used to treat Malignant Pleural Mesothelioma (MPM), a rare and aggressive cancer.
Under the eight-year agreement, Bioprofarma Bago will have exclusive rights to distribute the drug in the Latin American region.
Polaris said the deal is expected to generate revenue once shipments begin.
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