The Canadian company Sirona Biochem has executed an exclusive license agreement with China's Wanbang Biopharma to develop and commercialize Sirona’s anti-diabetic SGLT2 inhibitor in the People’s Republic of China.
Focusing on identifying and confirming discovery-stage drug products, Sirona relies on "outsourcing" future drug development activities to third parties. Understanding the value of obtaining additional pre-clinical and clinical data for future global licensing deals, Sirona chose China as a perfect site for a local deal that can provide such much-needed data at a marginal cost.
Accordingly, in return for a robust licensing, milestone and royalty agreement, Sirona has transferred the responsibility for all funding, clinical development, regulatory requirements, manufacturing, sales and marketing of its SGLT2 inhibitor to Wanbang which is committed to share all data generated through its clinical studies with Sirona, thus significantly elevating the value of Sirona’s SGLT2 inhibitor for licensing in the rest of the world.
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