Date: 2014-01-27
Type of information: Licensing agreement
Compound: anti-diabetic SGLT2 inhibitor
Company: Sirona Biochem (Canada - France) Wanbang Biopharmaceuticals (China)
Therapeutic area: Metabolic diseases
Type agreement: licensing
Action mechanism: SGLT2 (Sodium-glucose co-transporter 2) is a protein in humans that facilitates glucose reabsorption in the kidney. SGLT2 inhibitors can block the reabsorption of glucose in the kidney, increase glucose excretion, and lower blood glucose levels. Two SGLT2 inhibitors, canagliflozine (Invokana®) and dapaglifozine (Forxiga®) have been already approved and a third one, empaglifozin, is currently under review in Europe and in the US.
Disease: diabetes
Details: * On January 27, 2014, Sirona Biochem has announced the completion of an exclusive licensing agreement with Wanbang Biopharmaceuticals. Sirona Biochem will provide an exclusive license to Wanbang Biopharma to develop and commercialize Sirona's anti-diabetic SGLT2 inhibitor in the People\'s Republic of China.
In return for the licensing, milestone and royalty agreement, Sirona Biochem has transferred the responsibility for all funding, clinical development, regulatory requirements, manufacturing, sales and marketing of its SGLT2 inhibitor in China. Wanbang Biopharma will share all data generated through its clinical studies, significantly elevating the value of Sirona\'s SGLT2 inhibitor for licensing in the rest of the world.
Financial terms: In exchange for this license, Wanbang Biopharma will provide upfront and milestone payments of up to $9.5M in addition to royalty payments for product sales in the PRC.
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