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news.QRxPharma and China Aoxing Pharmaceutical (China Aoxing) have entered into a strategic alliance to collaborate in the development of MoxDuoIV, an intravenous formulation of QRxPharma's patented morphine and oxycodone Dual-Opioid technology for the acute treatment of moderate to severe pain.
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As per the terms of the agreement, China Aoxing is expected to fund the development of MoxDuoIV for the China market in exchange for exclusive marketing rights in China. QRxPharma will retain ownership of MoxDuoIV and may use the clinical work completed by China Aoxing for product registration purposes outside of China.
China Aoxing has also licensed the rights to the China market for MoxDuoIR, an immediate release capsule presently in pivotal Phase 3 studies in the US. A binding term sheet has been signed by the parties and the transaction is expected to be closed by the end of March 2010.
John Holaday, managing director and chief executive officer of QRxPharma, said: “We are pleased to announce this strategic alliance as it furthers our MoxDuoIV development objectives and provides access to an important and rapidly growing market.
“By leveraging China Aoxing’s technical resources, we are able to cost effectively advance development of MoxDuoIV. Our team will work closely with China Aoxing to ensure the development program meets both FDA and China State Food and Drug Administration (SFDA) regulatory requirements.”
Zhenjiang Yue, chairman and CEO of China Aoxing, said: “We are excited to enter into this strategic alliance with QRxPharma to co-develop two promising drugs for China and ex-China markets. It also bolsters our capability to develop and bring to market innovative, high-value medicines that have the potential to address significant unmet medical needs. We believe that the partnership will generate significant opportunities and benefits for both companies.”
Earlier, in July 2009, QRxPharma had initiated a comparative a study to evaluate the efficacy and safety of MoxDuoIV versus IV morphine alone for the treatment of moderate to severe post-operative pain in patients following hip replacement surgery.