Celltrion signed the contract to acquire the exclusive sales rights of Donerion Patch, a donepezil patch product to treat the Alzheimer’s, which the company has co-developed with Icure, on Friday.

Celltrion has submitted a new drug application for the drug to the Ministry of Food and Drug Safety for in April. If approved, it will be the first donepezil patch in the world, the company said.

In 2017, Celltrion signed an agreement on joint marketing with Icure. With the latest contract, Celltrion has the right to have exclusive sales of donerion patch for about 12 years in Korea. Icure will focus on donepezil patch production and supply to help Celltrion maintain market dominance during the contract period.

Because of difficulties developing different forms of donepezil, it had been commercialized in orally administered drug. However, the new patch only needs to be attached twice a week. The patch type has sharply improved its compliance and convenience, the company said.

According to Ubist, a market researcher, donepezil is a component extensively used for Alzheimer treatment taking up to 80 percent of the domestic Alzheimer’s treatment market in 2020, recording the sales of 230 billion won ($194 million) out of the total 290 billion won. The market has grown 8.6 percent on annual average and is estimated to reach 360 billion won by 2025.

The global market for the Alzheimer’s treatment is estimated to be $3 billion, and is expected to grow to $5 billion by 2024.

“If donerion patch gets approval from the MFDS, it will become the world’s first donepezil patch, securing its lead status in the Korean and global markets,” a company official said. “Donerion patch has its advantages in compliance and convenience; hence, it is anticipated that it would provide a new option of treatment for the patients.”