SUJOU, China, July 14, 2021 / PRNewswire / – Kintor Pharmaceutical Limited (HKEX: 9939) today announced that it has entered into a licensing agreement with Shanghai Fosun Pharmaceutical Development Ltd. (“Fosun Pharma Development”), on the commercialization of proxalutamide for the treatment of COVID-19 indication in India and 28 African countries (the “regions of collaboration”). Kintor and Fosun Pharma Development will collaborate on emergency use authorization applications, promotion and sales of proxalutamide for the treatment of the COVID-19 indication.
According to the license agreement, Fosun Pharma Development will be granted the exclusive rights to register and commercialize proxalutamide in the collaboration regions. Kintor Pharmaceutical will be eligible to receive upfront payment and milestone payments until 560 million RMB (upfront and development milestone payments up to 110 million RMB and marketing milestone payments of 450 million RMB). Kintor Pharmaceutical will also be eligible to receive royalty payments that are not less than 50% of total operating profit in the Collaboration Regions, based on a tiered structure against the amount of net sales agreed by both companies.
Proxalutamide is a new generation androgen receptor (AR) antagonist. Since the outbreak of the COVID-19 pandemic in early 2020, Kintor Pharmaceutical has made rapid progress in studying proxalutamide as a potential treatment for the COVID-19 indication.
In 2021, Kintor Pharmaceutical received approval from the United States Food and Drug Administration (FDA) and the Brazilian Health Regulatory Agency (ANVISA) to conduct phase III clinical trials with proxalutamide in patients with COVID-19. The company is currently conducting two registered multi-regional phase III clinical trials (MRCTs) of proxalutamide for the treatment of COVID-19 outpatients, and one phase III MRCT for COVID-19 inpatients in countries and regions, including United States, South America (including Brazil), the European Union and Asia.
Dr Tong Youzhi, Founder, Chairman and CEO of Kintor Pharmaceutical, said, “The global COVID-19 pandemic continues to infect patients and devastate communities. Kintor hopes to speed up approvals for emergency use of proxalutamide in developing countries severely affected by the pandemic to improve the lives of patients infected with COVID-19. Thanks to the excellent capabilities of Fosun Pharma group in overseas registration and marketing, we hope to achieve a win-win result in the collaboration regions, so that more COVID-19 patients can benefit from proxalutamide. “
Proxalutamide is a nonsteroidal antiandrogen – in particular, a selective high affinity silent androgen receptor antagonist – which is in development for the potential treatment of COVID-19, prostate cancer and breast cancer. Proxalutamide is currently under investigation in two registered multiregional phase III clinical trials (MRCTs) for the treatment of COVID-19 outpatients, and one phase III MRCT for inpatients with COVID-19 infection in United States, South America (including Brazil), the European Union and Asia.
About Kintor Pharmaceutical Limited
Kintor Pharmaceutical Limited develops and markets a strong pipeline of innovative small molecule and biologic therapies for androgen receptor pathological areas with unmet medical needs including COVID-19, prostate, breast and liver cancer, alopecia and acne. For more information visit www.kintor.com.cn.
About Fosun Pharma Development
Shanghai Fosun Pharmaceutical Development Ltd. is a wholly owned subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. Founded in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma Group”; stock code: 600196 .SH, 02196.HK) is one of the world’s leading suppliers of pharmaceutical and healthcare products in China. Fosun Pharma Group strategically operates businesses in the pharmaceutical and healthcare industry, including pharmaceutical manufacturing, medical devices and medical diagnostics, healthcare services, pharmaceutical distribution and retail. Fosun Pharma Group considers pharmaceutical manufacturing as its core business and sticks to innovative research and development. Through in-house R&D, co-development, licensing and incubation, Fosun Pharma Group has established platforms for innovative small molecule drugs, antibody drugs and cell therapy. For more information, please visit www.fosunpharma.com.
SOURCE Kintor Pharma