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news.ULURU has entered into a licensing and supply agreement with Jiangxi Aiqilin Pharmaceuticals Group for the marketing of Altrazeal in China, including Hong Kong, Macau and Taiwan. The license agreement covers Altrazeal, Altrazeal Silver and Altrazeal Collagen.
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As per the terms of the licensing and supply agreement, ULURU is expected to get an upfront licensing payment, milestone payments based on regulatory approvals and sales performance and a royalty on product sales, whereas, Aiqilin got certain manufacturing rights.
Chunhua Hu, president and CEO of Aiqilin, said: “Aiqilin is well connected and has support from the clinical experts and researchers, extensive marketing and sales channels to effectively promote, sell and further develop Altrazeal in China.”
Kerry Gray, president and CEO of ULURU, said: “China is an extremely important market where we anticipate Altrazeal can rapidly establish a market presence.
“This represents the first step in our plan to have Altrazeal marketed globally and provides external commercial validation of Altrazeal and our proposed product line extensions.”