SciClone Pharmaceuticals has entered big biotech deals with Zensun Science & Technology granting SciClone the rights to promote, market, distribute and sell Neucardin in China, Hong Kong and Macau.
Neucardin is a novel, first-in-class therapeutic drug for the treatment of patients with intermediate to advanced congestive heart failure.
SciClone Pharmaceuticals, the big biotech company, entered biotech deals for Neucardin, which is a genetically engineered recombinant peptide fragment of neuregulin-1 that has been clinically shown to directly improve cardiac function, reverse ventricular remodeling and increase the survival of congestive heart failure patients.
Six Phase 2 studies with Neucardin have been conducted in China, Australia and the United States, including three Phase 2b studies in China.
The China Phase 2b survival study demonstrated that Neucardin was well tolerated and showed a significant decrease in mortality and improved survival in patients with CHF.
Under the terms of the biotech deals agreement, Zensun will be responsible for the manufacturing and supply of Neucardin, and SciClone Pharmaceuticals, the big biotech company, will be responsible for all aspects of commercialization, including the pre- and post-launch activities for Neucardin.
Financial terms of the biotech deals agreement include aggregate potential milestone payments of up to $18.5 million.
The Company has agreed to make additional payments of $10 million should Zensun receive approval of Neucardin by subcutaneous infusion as part of the biotech deals.
Further indications and improved product forms of Neucardin could result in additional payments.
Also included in the biotech deals agreement is a $12 million collateralized loan facility by which SciClone Pharmaceuticals would provide a secured loan to Zensun that Zensun may use in future.
For further deal information visit Current Agreements (subscription required)
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