Xbrane Biopharma and China Resource Pharmaceutical Group Limited have entered into a license agreement which gives CR Pharma exclusive rights to market and sell Spherotide (Triptorelin, a GnRH analogue in a parenteral depot formulation) in China.
Swedish Xbrane will receive a license fee in high single digit million USD range paid upon signing and on milestones up until market authorization of Spherotide in China according ot their press release. Xbrane will supply the product to the Chinese market at an agreed transfer price. CR Pharma will be responsible for financing local clinical trials required to obtain market authorization in China.
“We are very pleased to enter into this long-term partnership with CR Pharma. We are confident that CR Pharma, given its vast distribution reach and capabilities, will be successful in sales and marketing of Spherotide in China. This deal represents a significant achievement that demonstrates the great potential of our products and technologies,” says Martin Åmark, CEO of Xbrane.
Spherotide is a long-acting formulation with the active substance triptorelin used primarily in the treatment of prostate cancer, endometriosis, breast cancer and uterine fibroids. Long acting triptorelin, across all strengths has sales exceeding RMB 1 billion in China.