Cyrano Therapeutics of Washington DC has established a partnership with Shanghai Newsummit Biopharma for China development of theophylline, Cyrano’s intranasal therapy to treat loss of smell. Newsummit will provide Cyrano, which will establish a subsidiary in China, with regulatory, clinical and market development support. Also, Newsummit helped Cyrano raise funds from a pool of private China investment firms. Newsummit is a wholly owned subsidiary of Zhejiang Yatai Pharma, an infectious disease company.
Source: China Biotoday
