TAIPEI
, May 28, 2025 /PRNewswire/ -- Taiwan-based Formosa Pharmaceuticals ("Formosa", 6838.TW) announced that the company has entered into an exclusive licensing agreement with Adalvo Limited ("Adalvo") in the European and Brazilian markets for exclusive rights to the commercialization of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), a marketed innovative treatment of post-operative inflammation and pain following ocular surgery. Adalvo, a global pharma and top-three B2B company in Europe, was founded in 2018 and specializes in market access through a flexible and innovative business strategy. With nearly 1100 drug launches since its inception, Adalvo boasts over 170 commercial partners providing therapies in over 130 countries covering a vast array of indications and technologies. The licensing agreement with Adalvo includes upfront payment, sales milestones, and profit sharing, with additional considerations throughout the term of the agreement.
APP13007's active ingredient is the superpotent corticosteroid, clobetasol propionate, and is derived from Formosa Pharma's proprietary APNT® nanoparticle formulation platform. The novel formulation, approved by the US FDA in 2024, enables a convenient and straightforward dosing regimen (twice daily for 14 days) while providing rapid and sustained relief of inflammation and pain. In a US survey of 100 ophthalmic surgeons, rapid resolution of pain (~80% pain-free four days post-surgery) and low incidence of adverse events (<2%) were highlighted as key drivers to prescribing APP13007.
The European ophthalmology market reached $16 billion in 2024, with Germany and the UK leading as the largest markets. Cataract surgery is among the most common procedures performed in EU hospitals, driving demand for effective post-operative treatments. Looking ahead, the ocular surgery segment is projected to grow to $38 billion by 2032.
"Formosa Pharma welcomes this partnership with Adalvo to complete our licensing endeavors in the European markets. Adalvo's formidable presence and expertise throughout the region is renowned, and we appreciate their recognition of APP13007 as a worthy addition to their vast portfolio of innovative and impactful medicines." said Erick Co, President and CEO of Formosa Pharmaceuticals.
"This collaboration reflects Adalvo's continued commitment to expanding access to novel and differentiated treatments across key therapeutic areas," said Anil Okay, CEO of Adalvo. "We are pleased to partner with Formosa to bring this valuable ophthalmic asset to new markets."
About Formosa Pharmaceuticals, Inc.
Formosa Pharmaceuticals, Inc. (6838.TW) is a clinical stage biotechnology company with primary focus in the areas of ophthalmology and oncology. The company's proprietary nanoparticle formulation technology (APNT®), through which APP13007 was developed, improves the dissolution and bioavailability of APIs for topical, oral, and inhaler administration. Resulting formulations have high uniformity, purity, and stability, thereby allowing the utilization of poorly soluble or extremely potent drug agents which otherwise may face insurmountable challenges in safety, delivery, and penetration to target tissues. For more details about Formosa Pharma and APNT®, visit www.formosapharma.com.
About Adalvo
Adalvo is a global pharmaceutical company, and one of the leading B2B pharmaceutical companies in Europe, with commercial partnerships in more than 130 countries and over 170 commercial partners globally. The company's declared purpose is to make a difference for patients all over the world, driven by our smart collaboration network and commitment to delivering the highest quality differentiated products and services to our partners.
Adalvo takes pride in their ability to help partners reach their goals – be those increasing revenues or pushing into new markets. Tirelessly strives for excellence in all of its endeavours, driven by a deep-rooted passion for making a difference for partners.
The company's purpose-driven culture is committed to improving the lives of patients around the world. Adalvo's dynamic leadership team brings significant experience and industry know-how, which has helped to establish the company as a reliable global partner in the industry.
For more details about Adalvo, visit www.adalvo.com.
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SOURCE Formosa Pharmaceuticals Inc.,
