Taiwan's TaiGen Biotechnology Company Ltd inks exclusive deal with Russia's R-Pharm for nemonoxacin
Taipei, Taiwan-based TaiGen Biotechnology Company Ltd has inked an exclusive license deal with R-Pharm for the development and commercialization of nemonoxacin (Taigexyn) in the Russian Federation, Turkey and Commonwealth Independent States or CIS members. Financial details about the deal were not disclosed.
TaiGen Biotechnology is a biotechnology firm that is research-based and product-driven while R-Pharm is leading pharmaceutical firm in Russia that has commercial operations in Turkey, the Russian Federation and CIS. Aside from manufacturing, selling and marketing prescription drugs, medical equipment and laboratory diagnostics, one of R-Pharm's key business areas is venture investment.
Under the terms of the deal, R-Pharm will be developing, registering and commercializing nemonoxacin in the mentioned territories. All associated costs will be assumed by the Russian company, according to a statement about the deal. In exchange, TaiGen will be getting an upfront payment and in the future, will be eligible for added regulatory and commercial milestones and royalties on sales of the product.
Nemonoxacin, available in oral and intravenous formulations, is a new non-fluorinated quinolone. It has been shown to work actively against drug resistant bacteria like methicillin-resistant Staphylococcus aureus or MRSA, quinolone-resistant MRSA and quinolone-resistant Streptococcus pneumonia in the clinical trials done so far, the statement said.
R-Pharm Chief Executive Officer Vasily G. Ignatiev said in the statement that the company will use its capabilities to see to it that the innovative and anti-infective compound is registered speedily and launched successfully.
TaiGen President and Chief Executive Officer Dr. Ming-Chu Hsu said in the statement, "We are very impressed with the R-Pharm's experience and their commitment to infectious diseases. The Russian Federation and Turkey are among the world's top twenty pharmaceutical markets and their growth in the next five years will outpace the U.S., EU and Japan, according to IMS. Both countries also have a very high incidence of drug-resistance bacterial infections.Together we can bring innovative medicines such as nemonoxacin to these areas where the medical need is very high."