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news.SciClone Pharmaceuticals has entered into an agreement with Zensun granting SciClone a license and exclusive rights in China, for the promotion and sale of Neucardin.
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Neucardin is a genetically engineered recombinant peptide fragment of neuregulin-1 that is used as a therapeutic drug to treat advanced chronic heart failure (CHF).
As per the terms of the agreement, Zensun will manufacture and supply Neucardin and SciClone will commercialize the pre- and post-launch activities for the product.
A collateralized loan facility is also included in the agreement by which SciClone would provide a secured loan of $12m to Zensun and the companies have agreed to negotiate a supplemental license and supply agreement.
SciClone CEO Friedhelm Blobel said in-licensing Neucardin fulfills one of the company’s key strategic initiatives to expand its product portfolio with differentiated, high quality products that have significant therapeutic advantages and near-term commercial potential.
"Neucardin addresses a large unmet need in the treatment of CHF, and targets an indication in China with a significant underlying patient base," Blobel added.
Zensun CEO Mingdong Zhou said, "We believe that Neucardin, a first-in-class biologic that works through a novel mechanism of action, has the potential to bring significant benefits to patients with CHF."
Financial terms of the agreement include aggregate potential milestone payments of up to $18.5m.