pSivida to tap into Chinese market with Beijing Med-Pharm deal

Under the terms of the agreement, pSivida will manufacture BrachySil and Beijing Med-Pharm will be responsible for clinical development, securing regulatory approval, marketing and distribution in China. pSivida will retain manufacturing rights for BrachySil under the license.

The license includes upfront and milestone payments in excess of $2 million and royalties ranging up to 30%, depending upon level of sales, payable to pSivida by Beijing Med-Pharm.

Beijing Med-Pharm is a US-based company with Chinese subsidiaries that offers an end-to-end solution to primarily western pharmaceutical companies wishing to sell their products in the Chinese marketplace.

BrachySil (32-P BioSilicon) will enter a phase IIb dose-profiling study shortly as a potential new treatment for primary liver cancer. pSivida estimates that China has the highest incidence of this form of cancer in the world, with over 345,000 new cases per annum, representing 55% of total worldwide cases. Given the clinical proof of principle already established for BrachySil, focused programs are being prepared to exploit its broader utility in other significant cancer indications, including inoperable pancreatic and secondary liver disease.

Gavin Rezos, CEO of pSivida said, “China is the world’s fastest growing market for pharmaceuticals with a large and steadily increasing incidence of the types of cancer that we believe BrachySil can effectively treat. Gaining entry into this market, through partners such as Beijing Med-Pharm, is an important part of pSivida’s global commercial strategy.”