Neurotez, Inc., GCA Therapeutics Strike $102.5 Million+ Alzheimer's Pact
Published: May 21, 2014
Neurotez Signs Exclusive Licensing Agreement with GCA Therapeutics to Develop Leptin Derivatives for the Treatment of Alzheimer’s Disease in Mainland China
BRIDGEWATER, N.J.--(BUSINESS WIRE)-- Neurotez, Inc. today announced the execution of an exclusive license agreement covering its Leptin derivatives (Leptin Products), for the treatment of Alzheimer’s disease (AD) and other cognitive disorders, with GCA Therapeutics, Ltd. (GCAT). The exclusive license grants GCAT the right to clinically develop and commercialize Leptin Products in mainland China, exclusive of Hong Kong, and Taiwan. A version of Leptin has recently been approved in the USA for treating generalized lipodystrophy and in Japan for lipodystrophy.
Under the terms of the agreement, GCAT will assume all development and regulatory responsibility and associated costs for Leptin Products in China, and Neurotez will be eligible to receive gross sales milestones up to US$102.5 million as well as royalties on gross sales. The exclusive license also has certain minimum annual sales thresholds following first commercial sales in mainland China.
"GCAT has a demonstrated track record of successfully developing therapeutics for the large China/Asian markets, and we are delighted to enter this license agreement with them for China," said Nikolaos Tezapsidis, President and Chief Executive Officer of Neurotez, Inc. "This license is the first of what we anticipate to be a series of agreements designed to allow our program to reach the large global market of patients with Alzheimer’s disease.”
Dr. Mark Tang, Chairman of GCAT, said, "We are very excited about the potential benefits of this product for Alzheimer’s disease patients, especially given the potential market size in China, where AD is becoming increasingly prevalent and remains an unmet medical need. We look forward to a productive and profitable collaboration between Neurotez and GCAT."
About Neurotez, Inc.
Neurotez Inc. (www.neurotez.com) is a privately held Delaware corporation, based in New Jersey, developing recombinant human Leptin as a hormone replacement therapy for Alzheimer's disease (AD), and as a preventative for those who are at risk.
Founded by U.S. trained Chinese professionals and industry veterans in both finance and pharmaceuticals and based in New Jersey, GCA Therapeutics, Ltd (GCAT, www.gcatherapeutics.com) is focusing on licensing technologies and products to be developed and marketed in China.
Nikolaos Tezapsidis, 908-998-1340
GCA Therapeutics, Ltd.
Mark Tang, PhD, MBA, 201-882-2591
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