Mitochondrial medicine company Neurovive Pharmaceutical recently announced the signing of a collaboration agreement with Isomerase Therapeutics.
The agreement involves the product development and commercialization of the cyclophilin-inhibiting molecules that were recently acquired from Biotica Ltd. According to a press release, the collaboration will focus on cellular protection for traumatic brain injury and heart attack, and the new product NVP018/BC556 for antiviral indications. British Isomerase Therapeutics is a drug discovery biotech company based in Cambridge, UK. The company works with drug discovery and development services for companies looking to develop microbial natural products into drugs. It was founded by three members of Biotica’s former senior management team, as well as the former Chief Scientific Officer, who have experience working with the molecules acquired by NeuroVive earlier this year. The development work will begin in the summer of 2013.
Furthermore, NeuroVive’s Asian subsidiary NeuroVive Pharmaceutical Asia Ltd. has received the first milestone payment from Sihuan Pharmaceutical. It is the fourth-largest pharmaceutical company in China’s prescription drug market and the subsidiary’s collaboration partner for the development and distribution of the products CicloMulsion and NeuroSTAT in the Chinese market. According to an existing agreement NeuroVive Pharmaceutical Asia Ltd. is entitled to upfront and milestone payments from Sihuan regarding the two products totaling 35 million and 12 million yuan respectively. Also, Sihuan will pay an annual royalty of 10 percent of the net profits for the two products during the first ten years after market approval.