CanariaBio, a Korean biotech company listed on Kosdaq, said it has entered into an exclusive distribution and license agreement with Hikma MENA FZE for the commercialization of oregovomab, an immunotherapy for ovarian cancer, in the Middle East and North Africa (MENA) region.

Hikma MENA FTZ, which will be responsible for the launch and sales of oregovomab in the MENA region, is the regional arm of Hikma, a global pharmaceutical company headquartered in the U.K.

However, the company did not disclose the exact amount of the contract.

"Hikma is a leading pharmaceutical company with a strong market presence and extensive sales network in the MENA region," CanariaBio CEO Na Han-ik said.

Meanwhile, oregovomab showed encouraging results in a phase 2 trial, extending progression-free survival (PFS) to 42 months, an increase of 30 months compared to the standard of care.