The cyclophilin inhibitors drugs include CicloMulsion and NeuroSTAT which are intended to treat heart reperfusion injury after stenting and traumatic brain injury respectively.
Both the products prevent the death of mitochondria in damaged cells and the cascade of intracellular biochemical events that lead to secondary tissue damage following a traumatic injury, claims the company.
NeuroVive Pharmaceutical CEO Mikael Bronnegard said with the agreement with Sihuan, the company will add significant resources, product development and marketing expertise that will greatly accelerate the development and commercialization of its products in China.
"I look forward to a long and productive partnership with Sihuan that I am confident will lead to the launch of NeuroVive’s products for the treatment of acute cardiovascular and neurological conditions in the Chinese market estimated to be worth more than 2 billion RMB annually at peak sales," Bronnegard added.
Under the terms of the agreement, Sihuan Pharmaceutical will make upfront and milestone payments totalling RMB35m ($5.61m) and RMB12m ($1.92m) to NeuroVive in respect of CicloMulsion and NeuroSTAT respectively.
In addition, the Sihuan will pay a royalty representing 10% of the net revenue from the two products for a period of 10 years from the time they are launched.