Nov. 19, 2012
Sihuan Pharmaceutical Holdings Group, a leading pharmaceutical company with the largest cardio-cerebral vascular (“CCV”) drug franchise in China’s prescription drug market announced on Nov. 20, 2012 that it has entered into a collaboration agreement with NeuroVive Pharmaceutical, to develop two innovative products which are used for the treatment of heart reperfusion injuries and traumatic brain injuries respectively.
Pursuant to the collaboration agreement, NeuroVive will grant Sihuan an exclusive license to develop the market and sell the two products in China.
Sihuan will make upfront and milestone payments totaling RMB 35 million and RMB 12 million to NeuroVive. In addition, the company will pay a royalty amounting to 10% of the net revenue from the two products for a period of 10 years from the time they are launched.