Ascension Healthcare plc Announces Distribution Agreement with Apex

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LONDON, December 3, 2019 – Ascension Healthcare plc (“Ascension” or the “Company”), a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapies for haemophilia and osteoarthritis, today announces it has signed an important distribution agreement with Apex Pharma Marketing Pte Ltd, Singapore and Apex Pharmacy Marketing Sdn Bhd, Malaysia (collectively referred to as “Apex”) to supply Flexiseq to the Singapore and Malaysian markets. Apex are wholly owned subsidiaries of Apex Healthcare Berhad, which is publicly listed on the Malaysian stock exchange.

Under the terms of the agreement, Apex will purchase Flexiseq products from Ascension and be the exclusive importers and distributors over a two-year period, to service the pharmacy market, including A.S. Watsons, Guardian and Caring Pharmacy chains in the region. Discussions are also underway to explore expanding the partnership across South East Asia including Myanmar, Vietnam and Cambodia.

Additionally, following its launch in June, Flexiseq 30g handy pack is now on sale in Lloyds Pharmacy, Superdrug and Well Pharmacy throughout the UK. Flexiseq 30g is designed with the smaller joints in mind such as fingers, thumbs and toes and comes in a convenient travel size pack.

Ascension Healthcare plc is a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapies for the treatment of haemophilia and osteoarthritis.

The Company has three products in clinical or pre-clinical development for the treatment of Haemophilia A and also a range of internationally marketed products for osteoarthritis sufferers.  

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Flexiseq is a topical gel designed to support joint health and mobility. Unlike many topical gels for joint pain, Flexiseq is drug-free so can be used long-term by patients who are sensitive to, or cannot take, traditional pain medications.

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Apex Healthcare Berhad is a leading healthcare group with operations in Malaysia, Singapore, Vietnam and Myanmar. Founded in 1962, its core expertise is in the development, manufacturing, sales and marketing, distribution and wholesaling of pharmaceuticals, consumer healthcare products and diagnostics. Apex Healthcare Berhad is publicly listed on the Main Market of Bursa Malaysia (stock exchange of Malaysia).  Total turnover in 2018 was RM 653m (£126m) and Profit before tax of RM 69.3m (£13.4m). In July, Apex was recognised as the 11 fastest growing public listed company in Malaysia in terms of revenue and net profits. Apex employs 1,357 people and has direct operations in Malaysia, Singapore, Vietnam and Myanmar. In 2017, the pharmaceutical manufacturing division of Apex Healthcare Berhad, Xepa-Soul Pattinson (M) Sdn Bhd, was awarded a certificate of GMP compliance of a manufacturer (EU GMP Certificate) by the national competent authority in Hungary.

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Globe Newswire: 07:00 GMT Tuesday 3rd December 2019

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