Icure Pharmaceutical, a Korean biopharmaceutical company, said it has entered into an exclusive license and supply agreement with A. Menarini Asia Pacific Holdings, a wholly-owned subsidiary of the Italian pharmaceutical company Menarini, to market donepezil patches in two Asian countries -- Taiwan and Thailand. 

Icure’s donepezil patch is an incrementally modified drug for Alzheimer's disease developed into a patch form.

Under the accord, A. Menarini Asia Pacific Holdings will exclusively supply Icure's donepezil patch in Taiwan and Thailand for the next decade after launch, and Icure will receive an upfront payment of 1 million euros (1.4 billion won).

Icure can also receive up to 8 million euros in milestone payments depending on the commercialization process and sales of the treatment.

According to Icure, the estimated cumulative supply amount agreed upon by the two companies during the 10 years after approval of the treatment will amount to about 54.1 billion won (39.29 million euros).

The donepezil patch, developed by iCure, is applied twice a week.

Unlike oral medications, taken once a day, the patch can improve patients’ compliance greatly.

As the patch drug is not rapidly absorbed through the gastrointestinal tract, the fluctuation range of the drug concentration in the blood is low, enabling long-term stable administration, the Korean company said.

Icure had previously confirmed the efficacy of the treatment in a phase 3 clinical study in 400 patients with mild and moderate Alzheimer's disease in four countries, including Korea, Taiwan, Australia, and Malaysia.

"Going forward, the two companies will do their best to successfully commercialize the donepezil patch in the region so that many patients who have Alzheimer's disease can enjoy the benefits of this innovative product as quickly as possible," Icure Pharmaceutical CEO Lee Yeong-seok said.