MC2 Therapeutics, Ltd (“MC2”), a wholly owned subsidiary of MC2 Therapeutics A/S and Hangzhou Zhongmei Huadong Pharmaceutical Co (“Huadong”), a wholly owned subsidiary of Huadong Medicine Co., Ltd. (SZ.000963), announced today an agreement under which Huadong has been granted exclusive rights in Greater China (mainland China, Hong Kong, Macau and Taiwan) to develop and commercialize MC2’s drug, Wynzora® Cream for the treatment of plaque psoriasis.
Under the terms of the agreement, MC2 will receive upfront and regulatory milestone payments of USD 16 million, and an additional USD 36 million if certain sales milestones are achieved. MC2 is also eligible to receive tiered double-digit royalties.
“As a leading pharmaceutical company in Asia with a clear ambition and strategy to grow its franchise in treatment of immune-mediated skin diseases, Huadong is an excellent partner to leverage Wynzora® in Greater China,” said Jesper J. Lange, Chief Executive Officer, MC2. “This deal substantiates our strategy to make Wynzora® available to as many people as possible globally, as we continue to develop and expand our pipeline of innovative first-in-class treatments for immune-mediated inflammatory conditions.”
“MC2’s commitment to develop novel treatment paradigms within immune-mediated inflammatory skin diseases synergizes with Huadong’s presence and ambition to be a leader in this area. Wynzora®, MC2’s first commercialized drug, is a proven effective treatment for plaque psoriasis launched in the US and EU. Leveraging Huadong’s clinical, regulatory and commercial capabilities, we will work closely with MC2 to accelerate the clinical development of Wynzora® in Greater China, to benefit patients suffering from psoriasis, as soon as possible.” said Liang Lu, Chairman and CEO of Huadong Medicine.
Huadong will be responsible for the development and commercialization of Wynzora® Cream in Greater China with the oversight of a joint steering committee comprised of individuals from both companies. The transaction is effective immediately upon the execution of the License Agreement.
About Wynzora® Cream
Wynzora® Cream is a cream-based fixed dose combination of calcipotriene and betamethasone dipropionate for topical treatment of plaque psoriasis, including scalp psoriasis, in adults. Its dual mode of action is targeting the hallmark cytokines IL-23 and IL-17A/F immune axis and TNF-α expression in a single product. Wynzora® Cream is uniquely enabled by MC2’s formulation and drug delivery system PAD TechnologyRead More
(All Rights Reserved)