TOKYO & HONG KONG--(BUSINESS WIRE)--Solasia Pharma K.K. (Headquarters: Tokyo, Japan, President: Yoshihiro Arai, hereinafter "Solasia") and Lee's Pharmaceutical Holdings Limited (hereinafter "Lee's Pharma")(SEHK stock code: 0950) jointly announced today that Solasia and Lee's Pharma have entered into an exclusive license agreement for the commercialization and promotion of Sancuso® (granisetron transdermal delivery system) in the People's Republic of China (the "PRC") excluding Taiwan, Hong Kong, Macau and the Retained Territory. Solasia will retain rights to promote Sancuso® in three major cities (Beijing, Shanghai and Guangzhou; the "Retained Territory") in the PRC.
Under the terms of the Agreement, Solasia granted Lee's Pharma an exclusive license and right for promoting, commercializing, distributing and selling Sancuso®in the licensed territory for the patients suffering from chemotherapy-induced nausea vomiting (CINV) caused by chemotherapy.
Solasia obtained an exclusive license to develop and commercialize Sancuso® for Asian territories from ProStrakan and is currently waiting for approval from the China Food and Drug Administration.
"We are extremely excited to enter into an exclusive partnership with Lee's Pharma for Sancuso®. As we prepare for commercialization in the PRC, we believe our creative partnership would enable us to cover a large part of mainland China to support cancer patients going through chemotherapy," said Mr. Yoshihiro Arai, President & Representative Director. "CINV is still a difficult symptom to control for patients receiving chemotherapy. Sancuso® with its uniqueness of transdermal delivery system, we hope to change the treatment paradigm."
"We are pleased to partner with Solasia to co-promote Sancuso® in the PRC. I am confident that Sancuso® will provide an alternative for the cancer patients suffering from CINV in the territories," said Dr. Li Xiaoyi, Chief Executive Officer and Executive Director of Lee's Pharma. "This agreement reflects again the Group's effort in building an oncology franchise. Adding Sancuso® will further enhance our position to offer patients a comprehensive treatment solution in the oncology space in the future."
Sancuso® is an extended release transdermal system, delivering the anti-emetic, granisetron, steadily into the patient's bloodstream over several days without the need for injections or swallowing pills. Granisetron is a 5-HT3 receptor antagonist with well-established efficacy against chemotherapy-induced nausea and vomiting (CINV). Sancuso® was approved by the U.S. Food & Drug Administration (FDA) in September 2008 for the prevention of CINV in patients receiving moderately and/or highly emetogenic chemotherapy for up to 5 consecutive days.
Sancuso® was launched in the US in 2008 and 2013 in the EU.
Solasia was formed in November 2006 by MPM Capital and ITOCHU Corporation to address unmet needs for important new Western oncology therapies and supportive care products throughout Asia. The company's mission is to expedite patient access to unique oncology therapies through aggressive development and specialized commercialization throughout Japan, China and other Asian countries. Solasia recently completed Series D financing of JPY2.08 billion in August 2015. The funds will be used to prepare for launch of Sancuso® and further advance clinical development of its existing pipeline. To date, Solasia has raised approximately $80 million in venture financing. Additional information is available at http://solasia.co.jp.
About Lee's Pharma:
Lee's Pharma is a research-based biopharmaceutical company listed in Hong Kong with more than 20 years of operation in China's pharmaceutical industry. It is fully integrated with a strong infrastructures in drug development, manufacturing, sales and marketing. It has established extensive partnerships with more than 20 international companies and currently has 14 products in the market place. Lee's Pharma focuses on several key disease areas such as cardiovascular, oncology, gynecology, dermatology and ophthalmology. The company's development program has produced 30 product candidates resulting from both internal R&D efforts and collaborations with U.S., European and Japanese companies, including promising compounds to treat liver cancer and pulmonary hypertension. The mission of Lee's Pharma is to become a successful biopharmaceutical group in Asia providing innovative products to fight diseases and improve health and quality of life. Additional information is available at http://www.leespharm.com.