DUBAI, United Arab Emirates and NESS ZIONA, Israel, Oct 21, 2021 (GLOBE NEWSWIRE via COMTEX) --
DUBAI, United Arab Emirates and NESS ZIONA, Israel, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Mapi Pharma Ltd. ("Mapi" or the "Company"), a developer of high-barrier to entry and high value-added generic drugs that include complex active pharmaceutical ingredients ("APIs"), formulations and life cycle management ("LCM") products that target large markets, announced that it has entered new Middle Eastern markets with the signing of a distribution agreement granting Gaelan Medical Trade LLC, the healthcare arm of the Ghassan Aboud Group (GAG), an international conglomerate based in the United Arab Emirates (UAE), an exclusive right to market and distribute Mapi products in UAE.
"We are truly excited to partner with Mapi for the UAE. This partnership is an important consequence of the Abraham Accords Peace Agreement signed recently between Israel and the UAE. Gaelan has extensive knowledge and experience in specialty generic products and has a strong reach into all the major clinical institutions in the UAE," said Ghassan Aboud, Chairman, Ghassan Aboud Group.
Ehud Marom, Chairman and Chief Executive Officer of Mapi, added, "We are very excited to partner with the Ghassan Aboud Group in a transaction that will further expand Mapi's global presence. We now have an opportunity to supply our high-quality products to new markets and to strengthen the ties between our countries in one of the most important aspects of life, healthcare."
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About Gaelan Medical a part of Ghassan Aboud Group
Gaelan Medical is a part of Ghassan Aboud Group, an international conglomerate that has been engaged in several key business sectors including healthcare, automotive, hospitality, real estate, retail, catering, logistics, pastoral, trade and distribution and media for more than two decades. Headquartered in the United Arab Emirates, GAG's business operations are complemented by offices in Australia, Belgium, Jordan and Turkey.
Ghassan Aboud Group believes that productivity, innovation and transformation require community engagement and ensures that its exclusive portfolio operates in a corporate conscious and a responsible manner making people the number one priority behind its vision "Being at the forefront of excellence."
Gaelan Medical, the UAE-based healthcare and beauty distribution business follows a mission of care and cure and is dedicated to support healthcare providers with world-class solutions to better serve communities across the GCC region. Gaelan Medical with its experienced management team, caters to diverse healthcare needs including, pharmaceuticals, medical consumables, medical equipment, and beauty products. The company's flexibility and strong financial capabilities of its parent company GAG makes it the preferred partner-of-choice and one stop solution for the region. For more information, refer to gaelanmedical.com .
About Mapi Pharma
Mapi is a clinical stage pharmaceutical company, engaged in the development of high barrier-to-entry and highadded-value life cycle management ("LCM") products that target large markets and generic drugs that include complex active pharmaceutical ingredients ("APIs") and formulations. The GA Depot injection, administered once every four weeks, is the first in a series of depot long-acting injections in the Company's pipeline, for the treatment of MS. The product is a LCM version of Copaxone(R), which requires injections daily or every other day. Mapi Pharma partnered with Viatris /zigman2/quotes/209413137/composite VTRS +1.97% for GA Depot in an agreement under which Viatris was granted an exclusive license to commercialize the GA Depot injection product for relapsing forms of multiple sclerosis (RMS). Mapi is built on strong chemical and pharmaceutical R&D capabilities, a deep understanding of the global market and of regulatory needs. Mapi is headquartered in Israel, with R&D facilities in Israel and China, an API production facility in the Neot-Hovav Eco Industrial Park and an aseptic manufacturing and a Fill & Finish facility for injectable Finished Dosage Forms in Jerusalem. Mapi has a strong IP position, filing numerous patent applications for APIs and formulations. Mapi Pharma was founded by Ehud Marom who serves as Chairman & CEO of Mapi Pharma and Stem Cell Medicine. For more information, please visit: www.mapi-pharma.com .
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