Onconic Therapeutics said on the 11th it has signed a licensing and supply agreement with Indonesian pharmaceutical company Dexa Medica for the commercialization of its gastroesophageal reflux disease (GERD) treatment Zaqubo (zastaprazan) in Indonesia.
Under the agreement, Dexa Medica will be responsible for regulatory approval and commercialization of Zaqubo in Indonesia, while Onconic Therapeutics will supply the finished product. Financial terms of the deal were not disclosed.
Founded in 1969, Dexa Medica is one of Indonesia’s leading pharmaceutical companies, with a nationwide sales and distribution network spanning hospitals, pharmacies and public healthcare centers.
Onconic said Dexa Medica’s strong presence in Indonesia’s National Health Insurance (JKN) system and its established position in the GERD treatment market make it an ideal partner to expand adoption of potassium-competitive acid blocker (P-CAB) therapies in the country.
The agreement marks another step in Onconic’s global expansion strategy for Zaqubo. The company has already filed for regulatory approval in China and is conducting a Phase 3 clinical trial to support additional indications. It has also recently submitted regulatory applications in India and Mexico.
“Indonesia is a key Southeast Asian market with significant growth potential,” a company official said. “This agreement establishes a foundation for Zaqubo’s expansion across the region, and we plan to pursue additional licensing-out opportunities in other markets.”
The company added that it remains focused on securing overseas approvals and expanding market share for the drug as it seeks to build a global presence for the Korean-developed therapy.
Separately, Onconic reported first-quarter revenue of $16.8 million, operating profit of $3.4 million and net profit of $4.7 million, driven by strong growth of Zaqubo, South Korea’s 37th domestically developed new drug. Excluding licensing revenue, sales of Zaqubo increased 229% year over year.