As part of the agreement, SciClone receives license and exclusive rights to promote, market, distribute and sell ProFlow in China, Hong Kong and Macau.
SciClone chief executive officer Dr Friedhelm Blobel said ProFlow has significant therapeutic and commercial advantages that differentiate it from other branded and generic competitors in the expanding PAD segment.
"We look forward to working with our partner TLC to bring this important medical advance to patients in need," Blobel added.
TLC will be responsible for ProFlow’s continued development, potential clinical trials and regulatory activities as well as manufacturing and supply, while commercialization, including pre- and post-launch activities will be handled by SciClone.
Financial terms of the agreement include clinical, regulatory and sales milestone payments up to $39.5m. Both the companies have agreed to negotiate a supplemental license and supply agreement.
ProFlow has demonstrated to have twice the shelf life as currently marketed lipid emulsion formulations of PGE1, a vasodilator and platelet inhibitor.
It is expected to undergo certain additional clinical testing prior to being approved by the China Food and Drug Administration (CFDA).
A broad protection patent for ProFlow has been granted in China, Japan and Taiwan, while a worldwide composition of matter patents is being awaited by TLC.