Alfacell Corporation, makers of the promising mesothelioma drug ONCONASE, has announced that they have entered into an agreement with Megapharm Ltd., a leading pharmaceutical company in Israel, for the commercialization of the drug in that country.

According to a press release issued by New Jersey-based Alfacell, the company has granted Megapharm exclusive rights in the defined territory for the marketing, sales and distribution of the drug.

Under the agreement, Alfacell will receive half of all sales rendered in the designated territory. Alfacell will manufacture and supply the product to the Israeli company, which will in turn be responsible for “all activities and costs related to regulatory filings and commercial activities in the territory.”

“We are very pleased to add Megapharm to our growing list of important regional partners for ONCONASE,” said Kuslima Shogen, chief executive officer of Alfacell. “Megapharm’s role as a leader in biotechnology marketing in Israel provides Alfacell with an ideal partner to maximize the potential of ONCONASE in this region. We look forward to a successful collaboration with Megapharm.”

“Having been interested observers in the development of ONCONASE, a first-in-class anti-cancer agent, we are proud to include this unique product in our oncology portfolio,” added Miron Drucker, founder and CEO of Megapharm. “We believe that ONCONASE will prove to be a promising new treatment option for patients suffering from mesothelioma.”

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