Shanghai Fosun Pharm to Innovate New Drugs     

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (SH: 600196) recently disclosed that its subsidiary Jiangsu Wanbang Biochemical Pharmaceuticals Company has signed a supply agreement with D-Pharm Ltd. on November 8th. According to this agreement the Israel company licensed Jiangsu Wanbang to do DP-b99 business in China, including research, registration, production and sale.
   D-Pharm aims to increase the potential market for its DP-b99, which is a novel drug discovered and developed by D-Pharm for treatment of patients with acute ischemic stroke. And D-Pharm expects to receive significant royalties from the sales of DP-b99 in China in exchange for the exclusive supply of DP-b99 to Jiangsu Wanbang. In addition, D-Pharm will receive up to US$25.5 million upon reaching certain development, regulatory and sales milestones, up to US$7 million out of this sum may be replaced by additional royalties to D-Pharm from the sales of DP-b99.
    D-Pharm and Jiangsu Wanbang will co-develop DP-b99 in China. The joint clinical program includes a Phase III clinical study of DP-b99 in acute stroke patients similar to MACSI. Jiangsu Wanbang will finance the first 450 patients recruited into the study and D-Pharm may elect to fund recruitment of additional patients. The Phase III trial in China will be performed in compliance with the Food and Drug Administration (FDA) Good Clinical Practice (GCP) and applicable ICH guidelines.
     Jiangsu Wanbang is a leading pharmaceutical company in China that specializes in research, production and marketing of medicines for diabetes, cardiovascular disease and endocrinology.