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
About Xbrane
Xbrane is a commercial phase Swedish biopharmaceutical company specialized in biosimilars and long-acting injectables. Xbrane has world leading expertise in developing generics for long-acting injectable drugs and proprietary high-yield protein expression technology for the development of biosimilars. Xbrane's headquarter is located in Stockholm and the company's in-house research and development facilities are in Sweden and Italy. Xbrane is listed at Nasdaq First North since February 3rd, 2016 under the name XBRANE and Avanza Bank AB is Xbrane's certified adviser. For more information see www.xbrane.com.
About CR Pharma
China Resources Pharmaceutical Group Limited ("CR Pharma") is a leading integrated pharmaceutical company in China, primarily engaged in the research and development, manufacturing, distribution and retail of an extensive range of pharmaceutical and other healthcare products. CR Pharma is one of the largest pharmaceutical companies in China. In OTC drug segment, CR Pharma is the largest manufacturer in China. In distribution segment, CR Pharma is the 2nd largest distributor operating a nationwide pharmaceutical distribution network with more than 100 subsidiaries across 27 provinces and has more than 6,000 distributors covering all 31 provinces in China.
This information is information that Xbrane Biopharma 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 06 February at 09.40 2018.
