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Onconic Therapeutics' gastroesophageal reflux disease treatment, 'Ja Q Bo' (Zastaprazan), is set to enter 19 Latin American countries, following its launch in China and India.

On September 12, Onconic Therapeutics (CEO John Kim) announced a technology transfer agreement with Mexico-based Laboratorios Sanfer, S.A. de C.V. This deal marks Onconic’s first step into the Latin American market. The terms of the agreement remain confidential by mutual consent.

Founded in 1941, Sanfer leads the Mexican prescription drug market in both revenue and market share, according to a 2023 MFP Audit Market report by Knobloch Information Group. With operations in 19 Latin American countries, Sanfer is expected to help facilitate Ja Q Bo’s swift expansion across the region.

The agreement covers major markets like Mexico, Argentina, Chile, and Colombia, extending Ja Q Bo's reach beyond China and India. This follows a similar technology transfer deal in May with an Indian pharmaceutical company, bringing the total number of countries in which Ja Q Bo is available to 21.

According to IQVIA Korea, Latin America's pharmaceutical and biotech industry grew at an average annual rate of 6.6% from 2017 to 2022, with projected growth accelerating to 7.8% from 2022 to 2027. Key markets, including Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, and Peru, saw a 19.2% growth in 2023, with an expected compound annual growth rate of 22% through 2027. This makes the region one of the fastest-growing pharmaceutical markets globally.

An Onconic Therapeutics representative commented, "Ja Q Bo's entry into a high-growth market like Latin America is a significant milestone in our global expansion. We will continue to collaborate with trusted pharmaceutical partners to deliver innovative solutions and strengthen our global presence."