Sinobiopharma, Inc., an innovative biopharmaceutical products company with primary operations in China, announced that the company, through its wholly-owned subsidiary Dong Ying (Jiangsu) Pharmaceutical Co., Ltd., has signed an agreement with Jiangsu Lianhuan Pharmaceuticals Co., Ltd. (Lianhuan) to co-develop, manufacture and commercialize Eplerenone, a therapeutic agent formulated to treat high blood pressure and vascular diseases.
Sinobiopharma is the first Chinese pharmaceutical company that received the approval from the Chinese State FDA for clinical trial of Eplerenone in China. If successfully commercialized, the company anticipates that Eplerenone will enjoy multi-year market exclusivity based on its first-to-market status.
Under the terms of the agreement, upon successful launch of the product, Sinobiopharma will receive 60 per cent of Eplerenone's profits while Lianhuan is entitled to the balance. Sinobiopharma has received authorization from the China State Food and Drug Administration (SFDA) to commence clinical trials. Lianhuan has agreed to execute and fund the cost of clinical development, regulatory applications and manufacturing of Eplerenone. The companies intend to jointly market Eplerenone based on their different geographical strengths in China.
"We are pleased to collaborate with a high quality, strong partner like Jiangsu Lianhuan," said Dr. Lequn Lee Huang, chairman and chief executive officer of Sinobiopharma. "We are highly optimistic about Eplerenone and believe that it could be an important growth driver, thanks to our first mover advantage with this compound and high technical barrier which would limit potential competition."
Eplerenone is an aldosterone antagonist used as an adjunct in the management of chronic heart failure. It is specifically used for reducing cardiovascular risk in patients following myocardial infarction.
Lianhuan is a China-listed pharmaceutical company located in the Yangzhou, Jiangsu province of China. Lianhuan was established in 1958 and employs 1100 people. The company has GMP certified production lines, a strong research and development capability and occupies 190,000 square meters.
Sinobiopharma is a fully integrated and highly innovative specialty biopharmaceutical company engaged in the research and development, manufacture and marketing of biopharmaceutical products in China, one of the world's fastest growing pharmaceutical markets.