Algorae Pharmaceuticals to Launch Five New Oncology Medicines in Australia-New Zealand Markets
Algorae Pharmaceuticals (ASX: 1AI) is preparing to enter the Australian and New Zealand oncology medicine market with an exclusive licensing agreement with Indian pharmaceutical manufacturer Sakar Healthcare. The agreement will see five generic oncology medicines marketed under the Algorae brand, targeting a combined market estimated at $10 million annually.
Algorae has initiated the regulatory process with the Therapeutic Goods Management (TGA) to secure registration for the products, paving the way for commercial launch. Sakar Healthcare is a vertically-integrated pharmaceutical company specializing in oncology, producing both active pharmaceutical ingredients and finished dosage forms including injectables, oral solids, and emerging dosage types. Sakar currently exports to over 60 countries, including regulated markets in Europe, Asia, Africa, and Latin America.
Recent due diligence conducted by Algorae representatives included a site visit to Sakar’s Ahmedabad manufacturing facilities. the visit confirmed Sakar’s production capacity, quality control systems, regulatory adherence, and strategic alignment with Algorae’s goals, involving meetings with senior management and technical staff.
According to Algorae Chair David Hainsworth, this licensing agreement represents a key step in establishing a commercial presence in Australia and New Zealand, expanding the company’s reach and supporting long-term growth. He emphasized the agreement will improve patient access to established therapies while leveraging Sakar’s manufacturing expertise.
This commercial initiative complements Algorae’s ongoing high-throughput validation trial at the Peter MacCallum Cancer Center. This trial is evaluating 21 oncology drug targets identified by Algorae’s AI drug discovery platform, AlgoraeOS, across brain, pancreas, breast, and prostate cancer cell lines. The trial focuses on optimizing cell growth, assessing drug toxicity, and analyzing drug combination synergies, with results anticipated before the end of the year.
