Hangzhou Sino-US Huadong Medicine Co., Ltd, a wholly-owned subsidiary of China-based Huadong Medicine Co, Ltd (SZ.000963), announced on Monday that it has partnered with China-based SynerK PharmaTech (Suzhou) Co, Ltd, a biomedical company involved the research and development of new small nucleic acid drugs and clinical research.

The two parties say that they will jointly develop the small nucleic acid (siRNA) drug SNK-2726, targeting angiotensinogen (AGT) for the treatment of hypertension. Huadong Medicine has obtained the exclusive option, once exercised, for the right to develop, register, manufacture and commercialise the drug in Greater China. SynerK owns intellectual property rights of SNK-2726, which is presently in the IND filing preparation stage.

According to the agreement, the two parties will jointly develop SNK-2726 to a certain stage. At the same time, Huadong Medicine obtains the exclusive option and may pay the exercise fee in the future to obtain the rights for exclusive development, registration, production and commercialisation of SNK-2726 in Greater China. After Huadong Medicine exercises its rights, SynerK will also be entitled to receive subsequent R&D milestones and sales milestones, as well as tiered loyalties based on net sales after commercialisation.

Dr Tao Lan, SynerK CEO, said: "We are very excited about the opportunity to cooperate with Huadong Medicine. Huadong Medicine's corporate philosophy of 'scientific research-based and patient-centered' coincides with our mission of 'changing patients' lives.' This cooperation further demonstrates the potential of SynerK's GalNexus siRNA platform. Through this 1+1>2 collaborative effort, we expect to accelerate the development of SNK-2726 and bring new treatment options to patients."