RepliCel Life Sciences Inc (TSXV:RP)
RepliCel is a regenerative medicine company developing autologous cell therapies that address diseases caused by a deficit of healthy cells required for normal healing and function.
Chinese drug maker Jiangsu Nhwa Pharmaceutical Co. has inked an agreement with US firm Trevena Inc. for the commercialization and development rights to investigational product oliceridine, a treatment for acute pain after surgery.
The Xuzhou-based firm will pay USD2.5 million up front for the license and USD6 million upon regulatory approvals in the US and China, it said in a statement. There will also be further payments based on sales performance.
The drug received breakthrough therapy designation by the US Food and Drug Administration and is currently undergoing a review for new drug registration in the US, Nhwa said. The drug improves on side effects that emerge with traditional analgesics while maintaining a strong antalgic effect.
The signing of the agreement will diversify the company’s lineup in surgery-related drugs and enhance its core competitiveness, according to Nhwa, while its launch in China will bring more choices for Chinese patients.
Founded in 1978, Nhwa is a pharmaceutical company that focuses on central nervous system agents, covering anesthetic, psychotropic and neurological drugs. The drug maker has three large manufacturing bases and can produce 3 billion tablets of solid drugs and 100 million doses of injections each year.
Source: yicaiglobal.com
