Shenzhen Hepalink Pharmaceutical said it has reached an agreement to develop and commercialize in Greater China a cardiovascular candidate from Resverlogix Corp. in a deal that could even include wider territorial sales if successful.
The companies see an opportunity in Greater China, which includes Hong Kong, Taiwan and Macau, with several new indications for RVX-208, according to a press release from Resverlogix.
In the second half of the year, Resverlogix plans a Phase III trial related to the BET family of bromodomain-containing proteins to treat patients with diabetes and low HDL who also suffer from cardiovascular problems.
Hepalink will hold a C$35 million ($28.7 million) equity stake in Resverlogix by buying 13.3 million shares and 1 million warrants at C$2.67. The deal includes a potential $400 million in sales milestones for Resverlogix.
Eastern Capital Ltd., a current shareholder in Resverlogix, plans to increase its stake by C$15 million ($12.3 million) at the same price.
- here's the Resverlogix release