CleveXel Pharma today announces that the company has entered into a new partnering agreement with Guilin Pharmaceutical, a Chinese company located in Shanghai, regarding the development of two new products.
Guilin Pharmaceutical, a member of Fosun Pharma, is the first Chinese pharmaceutical manufacturer approved by the World Health Organization. It is also China’s largest artemisinin based anti-malarial drug producer. Artemisinin is an active substance derived from the traditional Chinese pharmacopeia.
This new work complements two other projects between the partners, which started in 2013. The purpose of the latest venture is to increase anti-malarial manufacturing across three active units. It includes an adult and pediatric formulation. This field is competitive and highly time-sensitive.
The risks and costs of development will be split between each company, along with the expected commercial success and associated royalties. As compensation for the development work undertaken by CleveXel Pharma, Guilin Pharmaceutical will pay development milestones to CleveXel Pharma and a royalty based on Guilin Pharmaceutical’s net sales.
Guilin Pharmaceutical only selects the most efficient partners in order to optimize its worldwide reach and market access. CleveXel Pharma is a highly experienced pharmaceutical developer that conforms fully with cGMP’s and global regulatory compliance. “We are very happy to collaborate with CleveXel Pharma and to gain access to its development expertise,” said Zhemin Yu, chairman of Guilin Pharmaceutical.
This relationship perfectly reflects the aims of the CleveXel Pharma business model; the company has developed a deep understanding of Chinese partners and enjoys a long track record of success in the region. This new project reinforces their lead as a ‘go-to’ partner for Chinese operators.
Technological project portfolios represent one fifth of CleveXel Pharma’s current activity. “Clevexel Pharma will use its innovative formulation development, including process optimization and industrial transfer, on these new projects. We are delighted to further collaborate with Guilin Pharmaceutical, which leads the way in anti-malarials for the Chinese and African markets,” said Christian Bloy, CEO of CleveXel Pharma.