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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.