Acticor Biotech: A +60M€ Regional Development and Commercialisation Agreement Signed with China Medical System Holding Limited®
PARIS--(BUSINESS WIRE)--Jul 31, 2018--Acticor Biotech, a clinical stage biotechnology company involved in the acute phase of thrombotic diseases, including stroke and pulmonary embolism, announces the signature of an Asset Transfer and Licensing agreement covering a development and commercialisation collaboration agreement with CMS Medical Limited as well as an investment agreement with CMS Medical Venture Investment Limited, a wholly owned subsidiary of China Medical System Holdings Limited (“CMS”; HKSE:0867), and A&B (HK).
Under the terms of the agreements, Acticor Biotech will collaborate with CMS, who will have the full rights in China and certain other Asian countries (excluding Japan and India), to enable the development and commercialisation of the Company’s pipeline of drug candidates in the region. The parties will coordinate and share data from their respective clinical studies and Acticor Biotech will benefit from the investment of CMS in developing the Company’s assets in China. Acticor Biotech will also receive commercial milestones and royalties based on the achievement of sales milestones by CMS and make a manufacturing margin on any product the Company supplies.
Gilles Avenard, Chief Executive Officer of Acticor Biotech, commented: “We are pleased to have signed this development and commercialisation agreement with China Medical System Holdings Limited. As a specialty pharmaceutical company based in China, CMS is the ideal strategic partner to help us advance our platform and commercialise potential products in this important region. We look forward to working closely with CMS.”
Mr. Lam Kong, Chairman, Chief Executive and President of CMS, added: “I am excited by this opportunity to work with the Acticor biotech team to drive forward the development of the Company’s drug candidate. I believe ACT017, Acticor Biotech’s drug candidate offers great potential as a novel approach to improve management of acute phase of vascular diseases, where there is a recognised unmet need for new effective treatment options.”
Agile Capital Markets acted as a financial advisor for Acticor Biotech.
CMS is a specialty pharmaceutical company based in China, engaging in marketing, promotion and sales of prescription drugs and other medicinal products to all therapeutic departments in hospitals nation-wide. CMS builds up its product portfolio for its target markets by asset acquisition, equity investment and licensing-in on the global basis as well as in-house R&D. It is listed on the Hong Kong Stock Exchange (867.HK) with a market capitalisation of approximately HK$33.4 billion (c. €3.6 billion) as at July 31 2018.
About ACT017, the Therapeutic Candidate - https://acticor-biotech.com/technology/
About Acticor Biotech - https://acticor-biotech.com/
View source version on businesswire.com:https://www.businesswire.com/news/home/20180731005763/en/
CONTACT: Acticor Biotech:
Chief Executive Officer
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+33(0) 1 44 71 00 12 / +33(0) 6 88 20 35 59
KEYWORD: EUROPE ASIA PACIFIC CHINA FRANCE HONG KONG
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CARDIOLOGY CLINICAL TRIALS PHARMACEUTICAL RESEARCH SCIENCE
SOURCE: Acticor Biotech
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PUB: 07/31/2018 12:04 PM/DISC: 07/31/2018 12:04 PM