MC2 Therapeutics, Ltd , a wholly owned subsidiary of MC2 Therapeutics A/S and Hangzhou Zhongmei Huadong Pharmaceutical Co, a wholly owned subsidiary of Huadong Medicine Co., Ltd. , announced an agreement under which Huadong has been granted exclusive rights in Greater China (mainland China, Hong Kong, Macau and Taiwan) to develop and commercialise MC2’s drug, Wynzora Cream for the treatment of plaque psoriasis.
Under the terms of the agreement, MC2 will receive upfront and regulatory milestone payments of USD 16 million, and an additional USD 36 million if certain sales milestones are achieved. MC2 is also eligible to receive tiered double-digit royalties.
“As a leading pharmaceutical company in Asia with a clear ambition and strategy to grow its franchise in treatment of immune-mediated skin diseases, Huadong is an excellent partner to leverage Wynzora in Greater China,” said Jesper J. Lange, Chief Executive Officer, MC2. “This deal substantiates our strategy to make Wynzora available to as many people as possible globally, as we continue to develop and expand our pipeline of innovative first-in-class treatments for immune-mediated inflammatory conditions.”
“MC2’s commitment to develop novel treatment paradigms within immune-mediated inflammatory skin diseases synergises with Huadong’s presence and ambition to be a leader in this area. Wynzora, MC2’s first commercialised drug, is a proven effective treatment for plaque psoriasis launched in the US and EU. Leveraging Huadong’s clinical, regulatory and commercial capabilities, we will work closely with MC2 to accelerate the clinical development of Wynzora in Greater China, to benefit patients suffering from psoriasis, as soon as possible.” said Liang Lu, Chairman and CEO of Huadong Medicine.
Huadong will be responsible for the development and commercialisation of Wynzora Cream in Greater China with the oversight of a joint steering committee comprised of individuals from both companies. The transaction is effective immediately upon the execution of the License Agreement.