Medivir outlicenses the antiviral compound MIV-160 to Guangdong Lantai Viewland Pharmaceutical Co. Ltd
Medivir AB, Sweden, and Guangdong Lantai Viewland Pharmaceutical, China, announced today the signing of a licensing agreement on MIV-160 (MV026048), a non-nucleoside HIV reverse transcriptase inhibitor (NNRTI) in late pre-clinical development.
Under the terms of the agreement Guangdong Lantai Viewland Pharmaceutical will make a payment to Medivir by transferring equity. In addition Guangdong Lantai Viewland Pharmaceutical will pay royalties on sales for both oral and topical use of MIV-160. Guangdong Lantai Viewland Pharmaceutical will have responsibility for the development of MIV-160 and commercialization in China (including Hong Kong, Taiwan and Macao). Medivir retains the rights to MIV-160 for all others territories.
MIV-160 exhibits excellent properties against resistant HIV selected by use of present NNRTIs. This profile could make it an important option for both treating the growing number of HIV patients in Asia and the Pacific region and for reducing the spread of the virus.
The properties of MIV-160 are beneficial for the further development of MIV-160 into both topical and oral medications. Guangdong Lantai Viewland Pharmaceutical will potentially develop MIV-160 for three different products; an oral treatment regime, a vaginal microbicide and coating of condoms.
Use of condoms today remains the best way of preventing HIV mucosal transmission, however published evidence suggests that use of male latex condoms on an annual basis only by 85% prevents transmission of HIV. This calls for the use of new condoms with an extra shield and also for protective methods to be used by women.
MIV-160 inactivates HIV also outside a cell and this provides a cost-effective disinfectant/chemical barrier to prevent HIV transmission. The annual consumption in China of male condoms was 2.8 billion in 2006 and with an annual growth of 15%.
Rockefeller Foundation in New York estimated the potential global market for 2nd generation vaginal microbicides to be around 800 MUSD in the developed world (7% market penetration) and 650 MUSD in the developing world ( 3% market penetration).
"The signing of this licensing agreement is an important step in Medivirs ambition to find the best way forward for MIV-160 in a growing and interesting market place" says Prof Bo Öberg, CEO Medivir HIV Franchise AB.
“This is an important milestone not only to Guangdong Lantai Viewland Pharmaceuticals but also to HIV prevention and treatment in China. I believe that the development of an effective prevention method is a vital element to keep this virus in check and MIV-160 offers a valuable opportunity ”says Mr Zhao Hai-Feng, Chairman of the Board, Guangdong Lantai Viewland Pharmaceuticals.
About Guangdong Lantai Viewland Pharmaceutical
Guangdong Lantai Viewland Pharmaceutical is a medicine marketing company located in the City of Guangzhou, and is one of five group members in Lantai Pharmaceutical. Lantai Pharmaceutical is a subsidiary of Inner Mongolia Lantai industrial Co. Ltd. listed on the Shanghai Stock Exchange since year 2000, which specialize in manufacture of salt, chemicals and pharmaceuticals and with total assets over 1.2 billions RMB.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT
Rein Piir, CFO and VP Investor Relations, +46 8 5468 3123 or mobile +46 708 537292
Bo Öberg, Prof, Medivir HIV Franchise AB, +46 8 5468 3116 or mobile +46 708 986440
For more information about Medivir, please see the company’s website, www.medivir.se