Jiangsu Hengrui Medicine licenses Novaliq’s dry eye products in China
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Jiangsu Hengrui Medicine will develop, manufacture and license NOV03 and CyclASol in China, Hong Kong, Macau and Taiwan following the closing of an exclusive license agreement with Novaliq, according to a press release.
NOV03 (perfluorohexyloctane) is being developed as a treatment for dry eye disease associated with meibomian gland dysfunction, while CyclASol (cyclosporine A 0.1%) is an anti-inflammatory investigational drug for the treatment of moderate to severe dry eye disease.
“We believe that Jiangsu Hengrui Medicine, as a leading biopharmaceutical company in China, is the ideal partner for us to maximize the commercial potential of our innovative products NOV03 and CyclASol in the Chinese market,” Christian Roesky, PhD, CEO of Novaliq, said in the release.
Novaliq will receive an upfront payment of up to $9 million, as well as up to $156 million in milestone payments, under the terms of the agreement.
Jiangsu Hengrui Medicine will acquire exclusive rights to develop, manufacture and commercialize the two drugs and pay Novaliq tiered percentage royalties.