Stockholm — Medivir AB (Nasdaq Stockholm: MVIR) announces today that the company has signed a licensing agreement for Medivir's Xerclear® for labial herpes with the Chinese company Shijiazhuang Yuanmai Biotechnology Co Ltd (SYB). The agreement gives SYB the right to register, manufacture and market the product in China. After market registration and production in China, Medivir will receive a fixed royalty for each unit sold and the agreement guarantees a minimum sale during the first three years on the market amounting to single-digit million amounts in SEK.
It is gratifying that we have succeeded in entering into a good licensing agreement with a Chinese company regarding production and sales of Xerclear® in China” said Dr Christina Herder, Head of Business Development of Medivir.
For further information, please contact:
Uli Hacksell, CEO, Medivir AB, phone: +46 (0)8 5468 3100.
In 2009, Xerclear® (Zoviduo®) was approved for the treatment of labial herpes. The marketing rights to Xerclear® in the USA, Canada and Mexico were divested in 2010, while the corresponding rights in Europe and the rest of the world have been out-licensed to GlaxoSmithKline, with the exception of China and South America where Medivir has retained the rights. Medivir receives royalties on sales of Zoviduo® from GlaxoSmithKline. In addition, Medivir would receive milestones when Zoviduo® is approved as an over the counter product in certain European markets.
Medivir develops innovative drugs with a focus on cancer where the unmet medical needs are high. The company is investing in indication areas where available therapies are limited or missing and there are great opportunities to offer significant improvements to patients. Collaborations and partnerships are important parts of Medivir's business model and the drug development is conducted either by Medivir or in partnership. Medivir's share (ticker: MVIR) is listed on Nasdaq Stockholm's Small Cap list. www.medivir.com.
About Shijiazhuang Yuanmai Biotechnology Co Ltd
Shijiazhuang Yuanmai Biotechnology is a wholly owned subsidiary of Shijiazhuang Yuanjia Biotechnology Co. Ltd. Shijiazhuang Yuanjia Biotechnology Co. Ltd. (‘Yuanjia Bio’) is an international pharmaceutical company established in the Chinese market. The mission of the company to introduce medicinal products, which have been approved in the EU or USA, to China. The management of Yuanjia Bio is from the senior management team of Jiangxi Jiminkexin - one of the top ten pharmaceutical companies in China. Yuanjia Bio has its own professional and experienced clinical and registration team, and it has a good working relationship with the National Drug Evaluation Center and the Registration Division of the National Medicinal Products Agency (formerly CFDA). Yuanjia Bio has an excellent marketing and sales network in China. The sales network covers all provinces and regions in the country, covering more than 2,000 hospitals. The sales organization is very experienced, and it has an excellent track record in building blockbuster products (more than 1 billion RMB of annual sales). Yuanjia Bio’s core management team has experience from many cases of successfully introducing overseas products to the Chinese market. Furthermore, it has valuable experience from overseas collaborations, such as the licensing agreement with LIDDS AB (Upsala, Sweden) in the field of prostate cancer in 2017 and exclusive distribution agreement with Peptonic Medical AB (Bromma Sweden) for the product VagiVitalTM in women’s health in 2019.