LIDDS has agreed to transfer the licensing agreement for Liproca® Depot in China to Jiangxi Puheng Pharmaceuticals Ltd following a request from the owners of Jiangsu Ambition Medical. The change of legal entity will not impact the time lines or Liproca® Depot activities and development in China.
Jiangxi Puheng Pharmaceuticals Ltd is backed by the same owners and has access to the same substantial competencies and capabilities as Jiangsu Ambition Medical.
Jiangxi Puheng Pharmaceuticals is spun out of Jiangxi Jiminkexin Group which ranks in the top 10 pharmaceutical companies of China and has collaboration agreements with international pharma companies. The company and its owners view NanoZolid® technology and specifically the Liproca® Depot product as a very promising treatment for prostate cancer.
Prostate cancer is the fastest growing cancer disease in China, why research and development in this field is of great importance. Jiangxi Puheng Pharmaceuticals expects that the sales of Liproca® Depot will reach yearly sales of 50 000 to 70 000 treatments in 3 to 5 years after launch.
For more information, please contact:
Monica Wallter, CEO, +46 (0)737 07 09 22, e-mail: monica.wallter@liddspharma.com
LIDDS AB (publ) is a Swedish-based pharmaceutical company with a unique drug delivery technology: NanoZolid®. NanoZolid is superior to any drug delivery technology 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 phase for cytostatics and immunoactive agents. LIDDS shares are listed on Nasdaq First North. For more information, please visit liddspharma.com.
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Source: LIDDS AB via Globenewswire