Cellegy Pharmaceuticals Inc. has licensed the rights to develop, manufacture and market a nitric oxide donor product for the treatment of anal disorders to New Harbor Corporation (NHC) under Cellegy's issued patent in China.
According to a company release, NHC will work through PUMC Pharmaceuticals Co., Ltd. (PUMC) to bring products to market in China that are protected by the Cellegy patent. PUMC will pay all development, regulatory, manufacturing and marketing costs. In exchange for rights under the patent, Cellegy will receive a royalty on sales. Cellegy's patent issued in China in May 2003 and expires in April 2015.
The issuance of a license to NHC and the marketing of products developed under the license by PUMC optimise Cellegy's potential earnings in China. China, currently the second largest market in Asia after Japan, is expected to become the world's largest market in unit volume for the consumption of pharmaceutical products.
"Cellegy chose NHC and its associate company PUMC from a number of Chinese companies that indicated strong interest in the Cellegy's products for the treatment of anal fissures," said Richard C. Williams, Cellegy's chairman and interim CEO. "PUMC will handle all aspects of registration, insurance reimbursement, manufacturing and marketing in China.".
PUMC will develop its own nitric oxide donor products in China.
Cellegy Pharmaceuticals is a specialty biopharmaceutical company that develops and commercialises prescription drugs for the treatment of women's health care conditions, including sexual dysfunction, HIV prevention and gastrointestinal disorders.