We are pleased to announce that Galventa has signed an investment agreement with GEN, which is a leading Turkish pharmaceutical company located in Ankara, Turkey. In addition to being a shareholder of Galventa, GEN will also manufacture Galventa’s innovative product B • SYNC ON at its facility located in Ankara for the global market. The technology transfer and scale-up studies for B • SYNC ON are scheduled to be completed in October 2021 and the sales are planned to be initiated in the last quarter of 2021 in several European countries including Switzerland and Germany.
B • SYNC ON has been co-developed by Galventa and Elixir İlaç Araştırma ve Geliştirme AŞ, which is a subsidiary of GEN, also located in Ankara in the Hacettepe University Technology Development Zone.
The commercial negotiations for the sales and distribution of B • SYNC ON through licensing agreements in many countries including Turkey are being conducted between Galventa, its representatives and GEN.