Wanbang Biopharmaceuticals In-licenses Diabetes Drug Rights From Sirona Biochem Of Canada

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by Richard Daverman, PhD

January 27, 2014 -- Wanbang Biopharma in-licensed the China rights to develop a pre-clinical diabetes drug discovered by Sirona Biochem of Canada. Wanbang will make up to $9.5 million in upfront and milestone payments plus royalties. The drug is a member of the SGLT2 class of diabetes drugs that inhibit glucose reabsorption from the kidneys. Wanbang, a division of Fosun Pharma, is active in diabetes treatments. More details....

Stock Symbols: (TSX: SBM; OTCQS: SRBCF) (SHA: 600196; HK: 02196)

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