Sirona Biochem Corp. has entered an agreement with Wanbang Biopharmaceuticals, providing Wanbang an exclusive license to develop and commercialize its anti-diabetic SGLT2 inhibitor in the People's Republic of China. Sirona will receive upfront and milestone payments of as much as $9.5 million, as well as royalties on sales.
Wanbang will be responsible for all funding, clinical development, regulatory requirements, manufacturing, sales and marketing of the SGLT2 inhibitor in China, and will share all data generated from its clinical studies, increasing the value of Sirona's SGLT2 inhibitor for licensing in the rest of the world.
"We are proud to work with Wanbang Biopharma in the continued development of our SGLT2 inhibitor as treatment for this global epidemic," said Neil Belenkie, chief executive officer of Sirona Biochem.
Sirona Biochem, Wanbang Bio Enter SGLT2 Inhibitor Agreement
By Kristin Brooks
Published January 27, 2014
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