Antibe Therapeutics Inc announced that it has licensed otenaproxesul to Nuance Pharma for commercialization in the Greater China region. Nuance is a biopharmaceutical company focused on licensing, developing and commercializing globally innovative therapies to address critical unmet medical needs in China and other Asia Pacific markets. Founded by Mark Lotter who built the AstraZeneca commercial franchise in China, and led by executives with extensive multinational pharma experience, Nuance focuses on identifying and in-licensing therapies that have achieved best-in-class, human proof-of-concept status.
The license provides Nuance with exclusive rights to commercialize the otenaproxesul in mainland China, Hong Kong, Macau, and Taiwan, representing approximately 10% of the worldwide pharma market.[1] Under the terms of the agreement, Antibe is entitled to US$100 million in milestone payments, including US$20 million upfront and US$80 million in development and sales milestones, in addition to a double-digit royalty on sales. Clinical development and regulatory costs for the region will be borne by Nuance. Antibe and Nuance have established a structure for collaborating on otenaproxesul's clinical development in the region, ensuring a fit with Antibe's global regulatory strategy.
"We are very impressed with Nuance's strategic grasp of the dynamics and opportunities in China's pharma marketplace," commented Dan Legault, Antibe's CEO. "Their globalized business practices and business model, combined with deep commercial, clinical and regulatory capabilities, make them an ideal partner to address this increasingly sophisticated market. Mark has built an exceptional team, providing us with confidence that Nuance can realize otenaproxesul's full potential."
China's extensive economic progress, combined with significant advances in drug regulation, intellectual property protection and health insurance coverage, has stimulated demand for leading-edge therapies. This trend has been particularly evident in pain management, a market that has doubled in the last five years, driven principally by demand for nonsteroidal anti-inflammatory drugs ("NSAIDs") like otenaproxesul.
"Our team is thrilled to partner with Antibe to commercialize otenaproxesul," commented Mark Lotter, CEO of Nuance. "This deal is a key part of our strategy to bring the next generation of best-in-class pain therapies to the region. As doctors and patients seek safer, non-addictive therapies for chronic pain, we see a great opportunity for otenaproxesul.
