UPPSALA, SWEDEN – LIDDS AB (publ) Jiangxi Puheng Pharma has after reviewing the preliminary results in LPC-004 decided to move ahead and has initiated discussions with Chinese medical authority, CFDA. The phase III study protocol will be developed in close collaboration with LIDDS.
LIDDS signed in 2018 an exclusive license agreement for Liproca® Depot for Mainland China with Jiangxi Puheng Pharma, a company focusing on oncology and immuno-oncology. Liproca® Depot, is an injectable cancer drug candidate for local treatment of prostate cancer. LIDDS is with Liproca® Depot targeting patients under Active Surveillance with intermediate risk of progression, a patient group that are not getting surgery or radiation.
Jiangxi Puheng Pharma is a Chinese pharmaceutical company specializing in global collaborations and in-licensing. LIDDS received a signing fee exceeding USD 1 million in 2018 which will be followed by milestone payments and royalty on sales as long as NanoZolid® patents are valid, currently until 2037. The phase III clinical trial will be conducted in urology clinics in China and will be fully financed by the Jiangxi Puheng Pharma. LIDDS and Jiangxi Puheng will work closely together to optimize time to market for launching Liproca® Depot in China.
The prostate cancer market is growing in China with around 500 000 patients being diagnosed annually. Puheng expects that the sales of Liproca® Depot will reach yearly sales of 50 000 to 70 000 treatments five years after launch.
Jiangxi Puheng views NanoZolid® technology and specifically the Liproca® Depot product as a very promising treatment for prostate cancer.
- We are very pleased to receive the positive Phase IIb results and we have already started preparations for conducting the Liproca® Depot clinical trial in China. We hope to extend the partnership with LIDDS and get other products based on the NanoZolid® technology into our pipeline, says Mr. Dai Dai, CEO of Jiangxi Puheng.
- Liproca® Depot will benefit prostate cancer patients both in terms of efficacy and maintained quality of life. Prostate cancer is a fast-growing cancer disease in China, why research and development in this field is of great importance. We are pleased that Jiangxi Puheng already has decided to progress with the phase III trial in China, says Monica Wallter, CEO, LIDDS.
Jiangxi Puheng has its own regulatory and clinical departments and a highly recognized marketing and sales organization. Being deeply connected with the Chinese regulatory authorities and key clinical opinion leaders, their sales network covers 1,130 large scale public hospitals and an additional 4,592 hospitals in China. The sales team has launched four different drug products with an annual revenue of more than RMB 1.5 billion each and three drug products with revenues of RMB 1 billion respectively.
For additional information, please contact:
Monica Wallter, CEO LIDDS, +46 (0)737 07 09 22, firstname.lastname@example.org
LIDDS is required to disclose the information in this press release under the European Union’s Market Abuse Regulation. The information was submitted through the agency of the aforementioned contact person for publication on November 07, 2019 at 09:45 CET.
LIDDS AB (publ) is a Swedish-based pharmaceutical company with a unique drug delivery technology NanoZolid®. NanoZolid® is a clinically validated drug development technology and superior in its ability to provide a controlled and sustained release of active drug substances for up to six months. LIDDS has licensing agreements where NanoZolid is combined with antiandrogens and in-house development projects in clinical and preclinical phase for cytostatics and immunoactive agents. LIDDS (LIDDS) shares are listed on Nasdaq First North Growth Market. Redeye AB, email@example.com, +46 (0)8 121 576 90, is a certified adviser to LIDDS. For more information, please visit liddspharma.com.