Deals and Financings

Otsuka Pharma (OTSKF) of Japan snagged marketing rights to Iclusig®, a leukemia drug developed by Ariad Pharma (NSDQ: ARIA), for Japan, China and eight other Asian countries (see story). Otsuka will pay $77.5 million upfront plus additional regulatory milestones. Ariad will receive a “substantial” share of net product revenues. Iclusig, a tyrosine kinase inhibitor, is designed to be effective in cases of chronic myeloid leukemia with the T315I mutation, which renders it resistant to other approved therapies.

Therapix Biosciences (TASE: TRPX; OTCQB: THXBY), an Israeli biotech accelerator, announced a MOU to out-license China rights for its anti-CD3 antibody to Nanjing BioSciKin (see story). As it currently stands, the agreement calls for BioSciKin to be responsible for all China development costs of the antibody plus build a GMP-compliant manufacturing line. BioSciKin will pay $300,000 upfront. Once BioSciKin takes over, Therapix intends to turn its attention to the synthetic cannabinoid drugs being developed by Lara Pharma, a company in which it owns a 25% stake.

Eddingpharm of China secured greater China rights to Brinavess™ from Cardiome Pharma (NSDQ: CRME; TSX: COM) of Canada (see story). Brinavess is a treatment for recent onset atrial fibrillation. Eddingpharm paid $1 million upfront and will make up to $3 million in regulatory milestones. It will also be responsible for meeting China regulatory requirements, including clinical trials, and agreed to undisclosed sales targets for Brinavess. 

China Pioneer Pharma (HK: 1345: CRPNF.PK) expanded its marketing relationship with Swiss pharma Polichem SA (see story). Pioneer will now add Cripar, a treatment for Parkinson's disease and both senile and vascular dementia, to its portfolio of China offerings. In addition, the two companies agreed to a five-year extension of Pioneer's marketing rights for Macmiror Complex and Macmiror in China and an equal term for Polimod in eight China provinces.