DBP International AB: Joint Venture agreement with Shijiazhuang Yuanjia Biotechnology for Temodex in China
Double Bond Pharmaceutical International AB (publ) via it's subsidiary Double Bond Pharmaceutical AB ("DBP", org. No. 556959-2982) has today signed an agreement with Shijiazhuang Yuanjia Biotechnology Co., Ltd via it's subsidiary Shijiazhuang Yuanta Biotechnology Co., Ltd ("SYB") for setting up a joint venture in China for commercialization of Temodex in the Chinese market. Under the terms of the agreement DBP grants to the joint venture exclusive rights for the product for 25% of shares of the joint venture as well as €0.5 million of milestones payment conditioned by formal market approval of Temodex in China.
"We are very glad to start the activity for providing Temodex to the largest market in the world", - says Igor Lokot, CEO of DBP.
"Our company is pleased to provide the Chinese market with unique innovative products. We hope that the cooperation with DBP can provide more effective treatment options for the patients in China.", - comments Dr. Conghai Huang, CEO of SYB.
More about Temodex/SI-053: Temodex, which is a locally acting formulation of temozolomide developed by RI PCP in Minsk, Belarus, is registered for marketing as the first-line treatment of glioblastoma within Belarus since 2014. Temodex was acquired by DBP in autumn 2015 and is now being prepared under the name SI-053 to pass through all the tests and trials required for registration within the EU and globally. Video presentation: https://youtu.be/iweOQPq316o
More about Shijiazhuang Yuanjia Biotechnology: Shijiazhuang Yuanjia Biotechnology Co. Ltd. is an international pharmaceutical company established in the Chinese market. The mission of the company to introduce medicinal products, which have been approved in the EU or USA, to China.
This information is information that Double Bond Pharmaceutical International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at May 21, 2020.
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Full Company Name: Double Bond Pharmaceutical International AB (publ)
Corporate identity: 556991-6082
Stock short name: DBP B
Share ISIN code: SE0007185525
For more info, contact
Igor Lokot, CEO
Homepage: http://www.doublebp.com/
E-mail: info@doublebp.com
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Information on Double Bond Pharmaceutical International AB
DBP is a pharmaceutical company with the primary focus on development of therapies against cancer based on the company’s own developed drug delivery technology BeloGal®. The company was granted Orphan Drug Designation status by European Medicines Agency (EMA) in June 2015 for its first product, SA-033, for treatment of hepatoblastoma. Double Bond Pharmaceutical acquired rights to Temodex, a drug registered in Belarus for treatment of brain tumours, in October 2015, and was granted Orphan Drug Designation status by EMA for in July 2016 for this formulation of temozolomide for the treatment of glioma. The formulation is now being further developed for registration in EU and globally and has a working name SI-053 in DBP pipeline.
Information on Shijiazhuang Yuanjia Biotechnology Co., Ltd
Shijiazhuang Yuanjia Biotechnology Co. Ltd. (‘Yuanjia Bio’) is an international pharmaceutical company established in the Chinese market. The mission of the company to introduce medicinal products, which have been approved in the EU or USA, to China.
The management of Yuanjia Bio is from the senior management team of Jiangxi Jiminkexin - one of the top ten pharmaceutical companies in China. Yuanjia Bio has its own professional and experienced clinical and registration team, and it has a good working relationship with the National Drug Evaluation Center and the Registration Division of the National Medicinal Products Agency (formerly CFDA). Yuanjia Bio has an excellent marketing and sales network in China. The sales network covers all provinces and regions in the country, covering more than 2,000 hospitals. The sales organization is very experienced, and it has an excellent track record in building blockbuster products (more than 1 billion RMB of annual sales). Yuanjia Bio’s core management team has experience from many cases of successfully introducing overseas products to the Chinese market. Furthermore, it has valuable experience from overseas collaborations, such as exclusive distribution agreement with Peptonic Medical AB (Bromma Sweden) for the product VagiVitalTM in women’s health in 2019, and exclusive distribution agreement with Medivir AB (Huddinge Sweden) for the product Xerclear® for the treatment of labial herpes.