HK-listed Lee's Pharmaceutical branches out further with Armetheon deal

HK-listed Lee's Pharmaceutical has been busy on the deal front in the past few months with the latest move a Greater China in-license for blood-thinner candidate Tecarfarin from California-based Armetheon, with an added twist of Thailand rights too.

Privately held Armetheon plans a 3,000-patient U.S. Phase III trial for the candidate that could become an alternative to warfarin, while Lee's Pharmaceutical made an unspecified upfront payment and investment in Armetheon. The pact also has Lee's Pharmaceutical paying for regulatory work and agreeing to pay sales and royalty milestones on revenues.

"Tecarfarin is poised to enter into a final registration study (Tecarfarin for AntiCoagulation Trial, or "TACT") in the U.S. under a Special Protocol Assessment (SPA) agreed upon with the FDA," Armetheon said in a release.

The Hong Kong pharma says it is represented across cardiovascular, oncology, gynecology, dermatology and ophthalmology in Greater China with a budding R&D program that has churned out 30 candidates.

In August, two-decade-old Lee's Pharmaceutical said it will work to register and market anesthetics ropivacaine and propofol from U.S.-based BioQuiddity in China. Eddingpharm will have rights to the drugs in Greater China. Financial terms were not disclosed.

The same month, China's WuXi PharmaTech ($WX) and Lee's Pharmaceutical signed an agreement to name WuXi's Laboratory Testing Division as the exclusive supplier of laboratory services for Lee.

In November 2014, Lee's Pharmaceutical struck a deal to partner with Ikaria on Inomax for the Chinese market. The therapy is designed to treat hypoxic respiratory failure associated with pulmonary hypertension in term and near-term infants greater than 34 weeks gestational age.

- here's the release