Fosun Pharma Subsidiary to In-License Diabetes Drug From Canadian Pharma
8/20/2013 8:27:17 AM
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by Richard Daverman, PhD
August 19, 2013 -- Wanbang Pharma, a subsidiary of Fosun Pharma, has signed a Letter of Intent to in-license China rights for a diabetes 2 treatment from Sirona Biochem of Canada. The molecule is a member of a new class of oral diabetes drugs known as SGLT2 inhibitors. Wanbang, which will be responsible for obtaining CFDA approval of the drug, will pay up to $9.5 million in upfront and regulatory milestones to Sirona plus royalties, once the drug enters the marketplace. More details....
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