Harbor BioSciences has granted China State Institute of Pharmaceutical Industry exclusive rights in China to three of its products in order to get them developed. CIPI is a subsidiary of China’s largest pharmaceutical company China National Pharmaceutical Group, also known as Sinopharm. The Chinese government is the majority owner. Harbor will retain rights to these products in the United States and the rest of the world.
CIPI will finance all of the product development in China to two mid-stage compounds and one pre-clinical compound for major indications including diabetes, cancer, inflammation and infectious diseases. Harbor will receive milestone payments at the completion of specific stages of development, excluding infectious diseases, plus royalties on net sales of any commercialized product. CIPI will make available to Harbor all the pre-clinical and clinical data it generates so that it can use it to seek marketing approval outside China.
The three license agreements cover Harbor compounds HE2000, HE3235 (Apoptone) and HE3286 (Triolex) for any clinical use in the People's Republic of China and Hong Kong. They are small molecule compounds that are metabolites or synthetic analogs of adrenal steroids that have been designed to restore the biological activity of cellular signaling pathways disrupted by disease and aging.
The deal is another example of going global to get the best deal to advance a development program.
“The agreements with CIPI, the first of their kind for both parties, provide the opportunity to move all of our products forward through development simultaneously without any financial support from Harbor BioSciences,” says James Frincke, president and CEO. “Furthermore, the agreements provide the opportunity for Harbor BioSciences to capture value for our research and development efforts completed to date, while retaining U.S. and other world-markets rights.”
Harbor BioSciences believes these are the first drug development agreements between a western pioneer drug company and a government-owned Chinese drug developer for pharmaceutical development to be conducted in the People's Republic of China. CIPI will supply the licensed products to Harbor for use in its clinical studies and sales outside China. Harbor BioSciences can also elect to distribute these compounds in countries that accept China’s State Food and Drug Administration drug approval process.
DEALS FOR THE WEEK ENDING JANUARY 21, 2011
| Global Venture Financings | |||
| Company | Location | Amount Raised (USD M) | Principal Activity |
| Avexxin | Trondheim, Norway | 2.6 | Therapeutics |
| Oxford Medical Diagnostics | Yarnton, United Kingdom | 1.9 | Diagnostics |
| ProNAi Therapeutics | Kalamazoo, MI | 1.7 | Therapeutics |
| Calando | Pasadena, CA | 1.0 | Tools/Technology |
| Cognition Therapeutics | Pittsburgh, PA | 2.5 | Therapeutics |
| Diagnoplex | Lausanne, Switzerland | 10.4 | Diagnostics |
| Diagnoplex | Lausanne, Switzerland | N/A | Diagnostics |
| Apica Cardiovascular | Galway, Ireland | 5.0 | Medical devices |
| Calypso Medical Technologies | Seattle, WA | 6.4 | Medical devices |
| Total Raised US | 11.6 | ||
| Total Raised Non-US | 19.9 | ||
| Public Financings | |||
| Company | Ticker | Amount Raised (USD M) |
Financing Type |
| Clavis Pharma (Norway) | OSE:CLAVIS | 3.5 | PIPE |
| TechniScan | OTC:TSNI | 10.0 | PIPE |
| MabCure | OTC:MBCI | 10.0 | PIPE |
| IntelliPharmaCeutics (Canada) | TSX:I | 12.0 | PIPE |
| Rexahn Pharmaceuticals | RNN | 4.0 | PIPE |
| Vision-Sciences | VSCI | 10.5 | PIPE |
| Provectus Pharmaceuticals | OTC:PVCT | 5.1 | Direct public offering |
| Spherix | SPEX | 2.8 | Registered direct offering |
| pSivida | PSDV | 10.8 | Registered direct offering |
| Pharmasset | VRUS | 153.0 | Follow on |
| ArQule | ARQL | 42.0 | Follow on |
| Ardea Biosciences | RDEA | 71.5 | Follow on |
| Fresnius Medical Care | FMS | 908.0 | Debt |
| Bacterin International | OTC:BIHI | 5.0 | Credit facility |
| EnWave (Canada) | TSX-V:ENW | 2.2 | Warrant exercise |
| Total Public Financings-US | 1,236.2 | ||
| Total Public Financings-Non-US | 14.2 | ||
| M&A | |||
| Acquirer | Target | Deal Value (USD M) |
Focus |
| Ares Life Sciences (Switzerland) | Stallergenes (France) | 547.4 | Inflammation |
| Perrigo Company | Paddock Laboratories | 540.0 | Generics |
| Boston Scientific | Atritech | 375.0 | Medical devices |
| Pfizer | Akorn | 35.0 | Generics |
| IDEX | Microfluidics International | 14.4 | Tools/Technology |
| China Biologic Products (China) | Guiyang Dalin Biologic Technologies (China) | 7.5 | Hematology |
| Inner Mongolia Free Han and Mongolia Pharmaceutical (China) | Echosens (France) | N/A | Medical devices |
| Boehringer Ingelheim (Germany) | Amgen | N/A | Biopharmaceuticals |
| InVentiv Health | Ingenix' i3 divisions | N/A | Contract services |
| Alliances | |||
| Company/Licenser | Company/Licensee | Deal Value (USD M) |
Focus |
| Theraclone Sciences | Pfizer | 632.0 | Drug discovery collaboration and license |
| Euroscreen (Belgium) | Johnson & Johnson | 200.0 | Endocrine partnership |
| Domain Therapetuics (France) | Merck KGaA (Germany) | 178.0 | CNS license |
| Helsinn Healthcare (Switzerland) | IS Pharma (United Kingdom) | 7.6 | Gastrointestinal drug alliance |
| Pieris (Germany) | Takeda Pharmaceutical (Japan) | N/A | Drug discovery collaboration |
| Intelligent Medical Devices | Abbott Laboratories | N/A | Assay development agreement |
| Harbor BioSciences | CIPI (Sinopharm-China) | N/A | Diabetes drugs license |
| Lead Discovery Center (Germany) | Merck KGaA (Germany) | N/A | Cancer collaboration |
| iBio | Fiocruz/Bio-Manguinhos (Brazil) | N/A | Vaccine technology license |
| Ingenuity Systems | Erasmus University Medical Center (Netherlands) | N/A | Genomics collaboration |
| Biocartis (Switzerland) | Johnson & Johnson | N/A | Diagnostic license |
| Qiagen (Netherlands) | EyeSense (Switzerland) | N/A | Diagnostic partnership |
January 21, 2011
http://www.burrillreport.com/article-going_global_.html