NewsXbrane Biopharma signs license agreement with CR Pharma for Spherotide in China

Press release
2018-02-06

Xbrane Biopharma (publ.) (“Xbrane”) and China Resource Pharmaceutical Group Limited (“CR Pharma”) have entered into a license agreement which gives CR Pharma exclusive rights to market and sell Spherotide (Triptorelin, a GnRH analogue in a parenteral depot formulation) in China.

Xbrane will receive a license fee in high single digit million USD range paid upon signing and on milestones up until market authorization of Spherotide in China. Xbrane will supply the product to the Chinese market at an agreed transfer price. CR Pharma will be responsible for financing local clinical trials required to obtain market authorization in China.

Martin Åmark, CEO of Xbrane says: “We are very pleased to enter into this long-term partnership with CR Pharma. We are confident that CR Pharma, given its vast distribution reach and capabilities, will be successful in sales and marketing of Spherotide in China. This deal represents a significant achievement that demonstrates the great potential of our products and technologies”

Yin Huijun, Senior Vice President, CR Pharma says: “The introduction of Spherotide and the high potential of cooperation with Xbrane in more key drug types will serve as active drivers for CR Pharma in pursuing a product strategy of vigorously venturing into the biopharmaceutical drug area.”

Spherotide is a long-acting formulation with the active substance triptorelin used primarily in the treatment of prostate cancer, endometriosis, breast cancer and uterine fibroids. Long acting triptorelin, across all strengths has sales exceeding RMB 1 billion in China.

For further information, please contact:

Martin Åmark
Chief Executive Officer
M: +46 (0) 763-093 777
E: martin.amark@xbrane.com

Susanna Helgesen
CFO/IR, Xbrane Biopharma AB
M: +46 (0) 708-278 636
E: susanna.helgesen@xbrane.com

 

Note: Serendiptiy Ixora divested its holdings in Xbrane Biopharma in January 2018, thus it is no longer a portfolio company