Kintor Pharmaceutical Limited and Shanghai Fosun Pharmaceutical Development Ltd. have formed a licensing agreement in view of collaborating on the commercialisation of proxalutamide for the treatment of COVID-19 indication in India and 28 African countries (the “Collaboration Regions”).
As part of this agreement, Fosun Pharma Development will have exclusive rights of registration and commercialisation of the drug in the African countries, and Kintor Pharmaceutical will receive upfront and milestone payments of up to RMB560 million and royalties of 50% or more on the operating profit.
Kintor Pharmaceutical has been making advancements in its study of proxalutamide as a potential treatment for COVID-19 since its outbreak, and received approval in 2021from the U.S. FDA and Brazilian Health Regulatory Agency (ANVISA) to proceed with phase III trials. Three phase III multi-regional clinical trials (MRCTs) – two in outpatients and one in inpatients – are being conducted across the U.S., South America, the EU, and Asia.
“Kintor hopes to accelerate emergency use authorizations for proxalutamide in developing countries severely affected by the pandemic to improve the lives of patients infected with COVID-19. With Fosun Pharma Group’s excellent abilities in registration and commercialisation overseas, we hope to achieve win-win in the Collaboration Regions, so that more COVID-19 patients can be benefited from proxalutamide,” said Dr. Tong Youzhi, founder, Chairman and CEO of Kintor Pharmaceutical.
Proxalutamide is a new-generation, nonsteroidal androgen receptor (AR) antagonist being studied as a possible treatment for COVID-19, prostate cancer, and breast cancer.
About Kintor Pharmaceutical
Kintor Pharmaceutical develops and commercialises innovative small molecule and biological therapeutics for androgen-receptor diseases like COVID-19, prostate, breast and liver cancer, alopecia, and acne. For more information, visit www.kintor.com.cn.
About Fosun Pharma Development
Fosun Pharma Development is a wholly-owned subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd., which operates in the pharmaceutical and health industry, with a focus on pharmaceutical manufacturing and R&D. Fosun Pharma Group has established platforms for small molecule innovative drugs, antibody drugs, and cell therapy. For more information, visit www.fosunpharma.com.