Express Pharma
Home  »  Latest Updates  »  Cipla Medpro to acquire 30 per cent stake in Brandmed

Cipla Medpro to acquire 30 per cent stake in Brandmed

17

 Cipla had announced a similar partnership in India with Wellthy Therapeutics to offer a clinically-validated digital disease management platform to patients in cardio-metabolic health

Cipla Medpro will acquire a 30 per cent stake upon closure in the connected healthcare company, Brandmed (Pty) Limited. In February, Cipla had announced a similar partnership in India with Wellthy Therapeutics to offer a clinically-validated digital disease management platform to patients in cardio-metabolic health.

Following the definitive agreement, Cip Tec will make an upfront payment of $22 million to Pulmatrix in exchange for assignment of all rights for Pulmazole in relation to pulmonary indications to Cip Tec. Thereafter, both parties will equally share costs related to the future development and commercialisation of Pulmazole, and equally share worldwide free cash flow from future sales of Pulmazole. Pulmatrix will remain primarily responsible for the execution of the clinical development of Pulmazole, and Cip Tec will be responsible for the commercialisation of the product. The partnership will be overseen by a Joint Steering Committee with equal representation from both companies.

Brandmed, founded in 2014, has developed a unique fully integrated end-to-end solution to address outcomes and value-based care for patients with chronic lifestyle and Non-Communicable- Diseases (NCDs) such as hypertension, diabetes, high cholesterol, asthma and chronic obstructive pulmonary disease.

The Brandmed ecosystem, developed in South Africa, seamlessly integrates a combination of connected solutions across the health continuum for patients, healthcare professionals, practices and institutions, and aims to deliver personalised patient care.

Paul Miller, CEO of Cipla Medpro, said, “This transaction will help to transition healthcare from being reactive to a proactive and real-time monitoring model that focuses on promoting wellness instead of managing illness. This aligns with Cipla’s vision and focus on ‘human care’ and a future where good health is expected, not for the few, but for the many.”

“By pairing our strengths with Brandmed’ s innovative, patient centric approach to healthcare, Cipla Medpro will enhance its diverse portfolio in the NCD area to provide holistic care to patients from awareness through to disease management, thereby enabling patient adherence and compliance.”

The brainchild behind Brandmed, cardiologist Dr Riaz Motara, said, “Drugs alone are not enough to manage a disease and the disease burden will become unmanageable unless innovative solutions are implemented.”

“We’re integrating medical expertise with ground-breaking technology to deliver better patient care and offer an integrated disease management solution. We’re also shifting the focus from managing diseases in separate silos to a comprehensive risk reduction and treatment approach. Greater success in patient health outcomes, value-based care and efficiencies could be achieved in South Africa if more healthcare stakeholders are willing to work together,” said Motara.

______________________

Comments are closed.