24 May 2018 - - Splendris International Ltd., an affiliate of Shenzhen, China-based cardiovascular products specialist Shenzhen Salubris Pharmaceuticals Co Ltd., has signed a strategic investment and in-licensing agreement with Swiss medical technology company M.A. MedAlliance S.A., the company said.
Under the terms of the agreement, Salubris will make a USD20 m equity investment in MedAlliance and will commit an additional USD10 m in developmental milestones in exchange for exclusive rights to develop and commercialize MedAlliance's lead investigational product Selution, a sirolimus micro-reservoir drug-coated balloon (DCB), for peripheral and cardiovascular applications in the Chinese market. MedAlliance will also be eligible for royalty payments on sales.
MedAlliance's DCB technology is a next-generation approach for patients with peripheral artery disease, coronary artery disease and arteriovenous fistulas. With unique micro-reservoirs, the technology efficiently delivers sirolimus to the target lesion, where it provides controlled and sustained release.
Clinical data from a first-in-man study of MedAlliance's DCB demonstrated one of the lowest rates of target lesion revascularization ever reported in a DCB first-in-man study at six months.
Privately-owned MedAlliance is focused on the conception, development and commercialization of drug-eluting stents, balloons, polymers and drugs. The company is developing medical products for the treatment of coronary and peripheral artery disease. Based in Switzerland, it has R and D facilities in Irvine, California and Singapore.
Salubris is a publicly traded, fully integrated pharmaceutical company [002294: CH] with over 3,800 employees working across R and D, regulatory, marketing and sales. Its marketed products include drugs and devices in the cardiovascular, oncology and anti-infective therapeutic areas.