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news.New Harbor Corporation has licensed the rights to develop, manufacture and market in China a product for the treatment of anal fissures from Australian company Cellegy Pharmaceuticals.
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New Harbor Corporation (NHC) is to work through PUMC Pharmaceuticals to bring the nitric oxide donor products to market in China that are protected by the Cellegy patent. PUMC will pay all development, regulatory, manufacturing and marketing costs.
In exchange for rights under the patent, Cellegy will receive a royalty on sales. Cellegy’s Chinese patent covering the product was issued in May 2003 and expires in April 2015.
China, currently the second largest market in Asia after Japan, is expected to become the world’s largest market in unit volume for the consumption of pharmaceutical products.
“Cellegy chose NHC and its associate company PUMC from a number of Chinese companies that indicated strong interest in the Cellegy’s products for the treatment of anal fissures,” said Richard Williams, Cellegy’s chairman and interim CEO.