GC Pharma, a South Korean biopharmaceutical company, and Lee's Pharmaceutical (HK) Limited, a wholly-owned subsidiary of Lee's Pharmaceutical Holdings Limited, have announced that they have entered into an agreement granting Lee's Pharm exclusive rights to develop and commercialise GCC-4401C, GC Pharma's investigational oral Factor Xa inhibitor anticoagulant which currently completed phase I clinical development in the US for the prevention and treatment of thromboembolic disease.

Under the terms of the agreement, Lee's Pharm receives exclusive rights to develop and commercialise the anticoagulant for the greater China and South East Asian market. GC Pharma will receive an undisclosed up-front payment and is eligible to receive milestone payments and royalties on future net sales.

"China and the surrounding Asian markets represent a significant opportunity for oral Factor Xa inhibitor," said Joon Soo Ryu, Ph. D., vice president of GC Pharma. "We need to have a partner having strong expertise in the Chinese market and we are delighted to further enhance the value of GCC-4401C through this partnership with Lee's Pharm."

"The Group is currently the market leader in the anti-thrombotic area, including Livaracine, our proprietary low molecular weight heparin. We have a robust pipeline of anti-thrombotics, such as a phase II anti-platelet drug, Anfibatide, a phase III Warfarin like anticoagulant, Tecarfarin and a synthetic anti-thrombotic agent, Fondaparinux," said Dr. Benjamin LI, chief executive of Lee's Pharm. "The Factor Xa inhibitor anticoagulant, GCC-4401C, complements the Group's existing products and pipelines which can further enhance the Group's market position in anti-thrombotic area.''