20 June 2019 - - US-based drug developer Mycovia Pharmaceuticals, Inc. and China-based biopharmaceutical company Jiangsu Hengrui Medicine Co., Ltd. (SSE: 600276) have inked an exclusive agreement to develop and commercialise Mycovia's investigational drug, VT-1161 (otesaconazole), in China, including mainland China, Hong Kong, Macau, and Taiwan, for the treatment or prevention of a range of fungal conditions, including recurrent vulvovaginal candidiasis, onychomycosis and invasive fungal infections, the companies said.
RVVC is also known as chronic yeast infection and is often accompanied by severe physical discomfort and emotional burden. Mycovia is currently conducting global Phase 3 trials of VT-1161 in women with RVVC to support marketing applications in the US, the European Union and Japan. NovaQuest Capital Management formed Mycovia in 2018 to advance VT-1161 in global markets.
With this partnership, Mycovia is eligible to receive development funding, regulatory milestones, sales milestones and royalties on net sales of VT-1161 in China.
Mycovia Pharmaceuticals' lead product candidate, VT-1161 (oteseconazole), is a novel, oral therapy designed to have greater selectivity, fewer side effects and improved potency than current treatment options.
It received FDA Qualified Infectious Disease Product and Fast-Track designations to support its potential as the first FDA-approved treatment for RVVC.
Studies to date suggest VT-1161 may also be an effective treatment for life-threatening systemic fungal infections.
Jiangsu Hengrui Medicine Co., Ltd. established in 1970, is a biopharmaceutical company based in China with annual net sales of over USD 2.5bn in 2018.
Hengrui is devoted to empowering healthier lives through research, with capabilities across oncology, immunology, anesthesiology, cardiovascular diseases, metabolic diseases, and pain management. Hengrui has more than 130 clinical trials ongoing worldwide and an in-house sales force covering more than 15,000 hospitals in China.
NovaQuest Capital Management is an investor in life sciences and healthcare through its Product Finance and Private Equity strategies. NovaQuest was formed in 2000 with the vision of building an investment platform to provide strategic capital to life sciences and healthcare companies.