TAIPEI, June 25, 2012 /PRNewswire-Asia/ -- TaiGen Biotechnology Company, Limited ("TaiGen") and Zhejiang Medicine Company, Limited ("ZMC") today announced that they have signed an exclusive agreement to manufacture and commercialize nemonoxacin, a novel broad-spectrum antibiotic, in China (excluding Hong Kong, and Macau). Nemonoxacin is a novel broad-spectrum non-fluorinated quinolone antibiotic under development for respiratory infections. TaiGen will be responsible for completing the Phase 3 clinical trial for community acquired pneumonia ("CAP") in China. ZMC will be responsible for manufacturing, sales and marketing of nemonoxacin in China through its wholly-owned subsidiary, XinChang Pharmaceuticals. TaiGen will retain full development and commercialization rights outside the licensed territory including Taiwan, the United States, European Union, and Japan. Under the terms of the agreement, TaiGen will receive an upfront payment of US$ 8 million from ZMC and will receive additional milestones as well as royalties on product sales. The term of the agreement is 20 years.
Nemonoxacin has demonstrated efficacy and safety in CAP and diabetic foot infection in multinational and multi-center clinical trials conducted by TaiGen. In particular, nemonoxacin has excellent activity against drug-resistant bacteria such as methicillin-resistant Staphylococcus aureus (MRSA) and quinolone-resistant MRSA. Nemonoxacin is taken once-a-day and available in both oral and intravenous formulations. Currently, TaiGen is completing a Phase 3 CAP trial with more than 500 patients from Taiwan and mainland China and expects to file new drug applications in Taiwan and mainland China simultaneously in early 2013.
China is one of the major antibiotic markets in the world. According to IMS, the sales of antibiotics in 2011 were approximately US$ 11 billion (RMB 68 billion) and account for almost 20% of the total pharmaceuticals sales. Rate of antibiotic resistant infections in China is among the highest in the world.
Mr. Li Chun Bo, Chairman of the ZMC, commented, "We are impressed with nemonoxacin's broad spectrum activity towards drug-resistant bacteria, in particular, MRSA, and excellent safety profile. We are excited to establish this partnership with TaiGen because of its reputation as a premier research-based biotech company in Asia. This partnership will break new ground for cross-strait collaboration in the pharmaceutical industry. Nemonoxacin will be a major addition to ZMC's antibiotic product line and significant profit driver".
Dr. Ming-Chu Hsu, President and Chief Executive Officer of TaiGen, said, "China is the world's fastest growing pharmaceutical market. It is poised to overtake Japan as the second largest pharmaceutical market. We are extremely please to establish our nemonoxacin partnership with ZMC, a first-class pharmaceutical company and major player in the Chinese antibiotics market. With nemonoxacin, TaiGen and ZMC together will bring new medicine to treat unmet medical needs in China. This partnership will not only set a new record for pharmaceutical licensing involving a Taiwanese and a mainland Chinese company but hopefully will also become a model of the future collaborations," Dr. Hsu also added, "With the conclusion of the partnership in China, we will actively pursue nemonoxacin licensing discussions in other territories such as European Union."
About Zhejiang Medicine
Zhejiang Medicine Company, Limited is a leading pharmaceutical company in China specializing in sales and distribution of pharmaceuticals and manufacturing of active pharmaceutical ingredients (vitamins and antibiotics). Its sales revenue in 2011 is US $740 million (RMB 4.8 billion). ZMC is a leader in the Chinese antibiotic market with levofloxacin, vancomycin, and teicoplanin in the product line. ZMC's Lai Li Xin, a branded levofloxacin, is one of the top selling antibiotics in China with 2011 sales exceeding US $110 million (RMB 735 million). In addition to pharmaceuticals sales, ZMC is also known for its manufacturing quality. Its vancomycin active pharmaceutical ingredient has obtained GMP qualification from US Food and Drug Administration (FDA) and exported to western countries. ZMC is publicly listed in the Shanghai Stock Exchange (600216) and has a market capitalization of RMB 11 billion.
About TaiGen Biotechnology
TaiGen Biotechnology is a leading research-based and product-driven biotechnology company in Taiwan with a wholly-owned subsidiary in Beijing, mainland China. TaiGen has full discovery research capacity in Taiwan and clinical development in mainland China/Taiwan/US. In addition to nemonoxacin, TaiGen has two other in-house discovered new chemical entities in clinical development under IND with US FDA: TG-0054, a chemokine receptor antagonist for stem cell transplantation and chemosensitization, in Phase 2 and TG-2349, a HCV protease inhibitor for treatment of chronic hepatitis infection, in Phase 1. Both TG-0054 and TG-2349 are currently in clinical development in the US.
Disclaimer
See the original post:
TaiGen Biotechnology Out-Licensed China Rights of Novel Antibiotic, Nemonoxacin, to Zhejiang Medicine
- Research shows need for better mpox protection in HIV-positive patients - The Pharma Letter - April 5th, 2025
- Marine Biotechnology Market to Reach $10.37 Bn by 2032 with 6.2% CAGR - openPR.com - April 5th, 2025
- Robbins LLP Reminds SANA Investors with Large Losses to Contact the Firm for Information About the Securities Fraud Class Action Against Sana... - April 5th, 2025
- Crescent Biopharma Appoints Joshua Brumm as Chief Executive Officer and Expands Leadership Team to Advance Pipeline of Potentially Best-in-Class... - April 5th, 2025
- Tech Trends 2030: How AI, Quantum Computing, and Biotechnology Will Shape the Future - Analytics Insight - February 24th, 2025
- The Security Implications of Developments in Biotechnology - International Institute for Strategic Studies - February 24th, 2025
- Biotechnology Permits and Notifications - USDA APHIS - February 24th, 2025
- Sustained in situ protein production and release in the mammalian gut by an engineered bacteriophage - Nature.com - February 24th, 2025
- Internal cap-initiated translation for efficient protein production from circular mRNA - Nature.com - February 24th, 2025
- MIT class takes students on a grand tour of the interdisciplinary world of biotech - MIT News - February 24th, 2025
- BioTech Breakthrough Awards BostonGene With Cancer Immunology Solution of the Year - Business Wire - February 24th, 2025
- Biodiversity to Bioeconomy - PIB - February 24th, 2025
- Luxa Biotechnology Announces FDA Regenerative Medicine Advanced Therapy (RMAT) Designation Granted to RPESC-RPE-4W Transplantation for the Treatment... - February 24th, 2025
- Biofach 2025: Biosan Biotechnology CEO talks popular mushroom blends and wellness benefits - Nutrition Insight - February 24th, 2025
- Pushing the boundaries of biotechnology - UC Santa Cruz - January 27th, 2025
- Living with the Land Biotechnology Lab Now Blocked by Scrims & More: Daily Recap (1/26/25) - WDW News Today - January 27th, 2025
- Living with the Land Biotechnology Lab Now Blocked by Scrims in EPCOT - WDW News Today - January 27th, 2025
- Biotechnology led to dramatic innovations in agriculture and human health in 2024 - Genetic Literacy Project - January 27th, 2025
- Cultured algae and biotechnology are ingredients to the 'Gelato of the future' - STIRworld - January 27th, 2025
- New U.S. Export Controls Seek to Prevent China From Weaponizing Biotech - Foundation for Defense of Democracies - January 27th, 2025
- Fresh from the biotech pipeline: FDA approvals settle in 2024, but what next? - Nature.com - January 27th, 2025
- Nuevocor Welcomes Andreas Wallnfer as Chairman of the Board of Directors - Kilgore News Herald - January 27th, 2025
- Creating and sustaining university biotech spin-outs - PMLiVE - January 27th, 2025
- IMTECH celebrates 41st foundation day with focus on BioE3 policy and biotechnology innovations - The Times of India - January 27th, 2025
- What's Going On With Liver Disease Focused Vir Biotechnology Stock Is Friday? - Yahoo Finance - November 16th, 2024
- Department of Biotechnology Launches Webinar Series on Biomanufacturing and Biofoundry Initiative - IBG NEWS - November 16th, 2024
- Multimodal scanning of genetic variants with base and prime editing - Nature.com - November 16th, 2024
- NEW INITIATIVE BY THE ITALIAN EMBASSY IN WASHINGTON ON BIOTECHNOLOGY WITH THE MILKEN INSTITUTE AND LEADING RESEARCHERS AND INDUSTRY EXPERTS -... - November 16th, 2024
- Vir Biotechnology Announces Positive End-of-Treatment Results for Tobevibart and Elebsiran Combinations in Chronic Hepatitis B from the MARCH Study at... - November 16th, 2024
- Albany State offers new Master of Science in Integrated Biotechnology program - The Albany Herald - November 16th, 2024
- What's Going On With Liver Disease Focused Vir Biotechnology Stock Is Friday? - Benzinga - November 16th, 2024
- iNtRON Biotechnology (KOSDAQ:048530) Is In A Strong Position To Grow Its Business - Simply Wall St - November 16th, 2024
- PDS Biotechnology Highlights Clinical Progress and Q3 Results - TipRanks - November 16th, 2024
- We Think Puma Biotechnology's (NASDAQ:PBYI) Robust Earnings Are Conservative - Yahoo Finance - November 16th, 2024
- Puma Biotechnology's (NASDAQ:PBYI) Performance Is Even Better Than Its Earnings Suggest - Simply Wall St - November 16th, 2024
- APHIS Announces Final Notice on Additional Exemptions for the Movement of Organisms Modified or Produced Through Genetic Engineering - USDA APHIS - November 16th, 2024
- Adaptimmune nears second approval for TCR-T therapy - European Biotechnology News - November 16th, 2024
- Lundbeck reports 18% revenue growth in third quarter - The Pharma Letter - November 16th, 2024
- BioNTech to boost oncology offering with buy of Biotheus - The Pharma Letter - November 16th, 2024
- Puma Biotechnology Third Quarter 2024 Earnings: Beats Expectations - Yahoo Finance - November 16th, 2024
- WPI Receives Federal Funding to Address Anticipated Demand for Biology and Biotechnology Professionals and Educators - WPI News - November 3rd, 2024
- Jonathan Dinman to Direct the Institute for Bioscience and Biotechnology Research - College of Computer, Mathematical, and Natural Sciences - November 3rd, 2024
- PDS Biotechnology Co. (NASDAQ:PDSB) Given Average Recommendation of "Buy" by Analysts - MarketBeat - November 3rd, 2024
- COP16, DSI mechanism for benefit sharing from the use of digital sequence information approved - Renewable Matter - November 3rd, 2024
- Artificial Intelligence in Biotechnology Market to Hit USD 7.75 Billion by 2029 with 19.1% CAGR | MarketsandMarkets - PR Newswire - November 3rd, 2024
- Axonis Therapeutics raises $115 million in Series A financing - The Pharma Letter - November 3rd, 2024
- Regeneron third-quarter 2024 earnings top expectations - The Pharma Letter - November 3rd, 2024
- AbbVie inks up to $1.4 billion deal with EvolveImmune - The Pharma Letter - November 3rd, 2024
- CEO and Chairman of the Executive Board - European Biotechnology News - November 3rd, 2024
- The transformative potential of biotechnology and AI in healthcare - The Armchair Trader - November 3rd, 2024
- U.S. Biotechnology And Pharmaceutical Services Outsourcing Market Size to Reach USD 16.68 Billion By 2033 - BioSpace - October 6th, 2024
- Vir Biotechnology, Inc. (NASDAQ:VIR) is largely controlled by institutional shareholders who own 53% of the company - Yahoo Finance - October 6th, 2024
- Resolution Therapeutics scores 63.5 million in series B round - The Pharma Letter - October 6th, 2024
- Wiregrass Institute for Biotechnology welcomes local military veteran from Southeast Health as its first computational biologist - AOL - October 6th, 2024
- Generating and characterizing a comprehensive panel of CHO cells glycosylation mutants for advancing glycobiology and biotechnology research -... - October 6th, 2024
- Sapience Therapeutics Announces Participation at the 4th Annual Needham Private Biotech Company Virtual 1x1 Forum - PR Newswire - October 6th, 2024
- Spyre Therapeutics lures Abivax exec to be its CMO - The Pharma Letter - October 6th, 2024
- Convergence is AIxBio: AI and the Bioeconomy - OODA Loop - October 6th, 2024
- Congress targets Chinese influence in health tech. It could come with tradeoffs - ABC News - September 13th, 2024
- Researchers, media engage to educate farmers on biotechnology - University World News - September 13th, 2024
- Congress targets Chinese influence in health tech. It could come with tradeoffs - The Associated Press - September 13th, 2024
- Comer Delivers Remarks in Support of Bipartisan BIOSECURE Act - House Committee on Oversight and Reform | - September 13th, 2024
- Announcement of $2 Million for the University of Delaware to Advance Biotechnology - WGMD Radio - September 13th, 2024
- Thailand's Competitiveness Enhanced Through Advanced Biotechnology at Thailand LAB INTERNATIONAL 2024 - BSA bureau - September 13th, 2024
- Biotechnology company Amgen expands global reach with technology innovation center in Hyderabad, India - BioProcess Insider - September 13th, 2024
- Adam's Biotech Scorecard: Can iTeos and GSK solve TIGIT's troubles? - STAT - September 13th, 2024
- Cizzle Biotechnology Advancing Lung Cancer Detection from R&D to Application with Moffitt Cancer Centre (VIDEO) - DirectorsTalk Interviews - September 13th, 2024
- MAIA Biotechnology Announces Positive Survival Updates in Phase 2 Study of THIO in Non-Small Cell Lung Cancer - Business Wire - September 13th, 2024
- MAIA Biotechnology Advances with Clinical Trials and Partnerships - TipRanks - September 13th, 2024
- Viridian Therapeutics reports positive results for veligrotug - The Pharma Letter - September 13th, 2024
- Chinese biotech firms refute US bill, stressing they have no access to Americans personal data - Global Times - September 13th, 2024
- Vir Biotechnology Enhances Portfolio with Sanofi Deal and Executive Appointments - TipRanks - September 13th, 2024
- Tesla BioHealing and Cell Biotechnology Partner to Advance Stem Cell Therapies - Vancity Buzz - September 13th, 2024
- Time to leverage intellectual property to drive innovation in seed and biotechnology sectors: Experts - The Times of India - May 5th, 2024
- Where Does Capricor Therapeutics Inc (CAPR) Stock Fall in the Biotechnology Field After It Has Risen 24.73% This Week? - InvestorsObserver - March 10th, 2024
- Where Does SpringWorks Therapeutics Inc (SWTX) Stock Fall in the Biotechnology Field After It Has Gained 12.41% This Week? - InvestorsObserver - February 18th, 2024
- Should Biotechnology Stock Axsome Therapeutics Inc (AXSM) Be in Your Portfolio Wednesday? - InvestorsObserver - February 18th, 2024
- Where Does Candel Therapeutics Inc (CADL) Stock Fall in the Biotechnology Field After It Has Gained 22.38% This Week? - InvestorsObserver - February 18th, 2024
- What is Biotechnology? Types and Applications - Iberdrola - January 25th, 2024
- Where Does Immunitybio Inc (IBRX) Stock Fall in the Biotechnology Field After It Is Lower By -9.32% This Week? - InvestorsObserver - January 25th, 2024