Adocia and Tonghua Dongbao in insulin strategic alliance in China
Adocia (Euronext Paris:FR0011184241 – ADOC) and Tonghua Dongbao Pharmaceuticals (Shanghai Stock Exchange 600867) announced a strategic partnership, giving Tonghua exclusive development and commercialization rights in China and other designated countries for the fixed-ratio insulin, glargine, and insulin lispro combination, BioChaperone Combo, and ultra-rapid insulin, BioChaperone Lispro.
BioChaperone Lispro and BioChaperone Combo represent the fourth generation of insulin.
Under the terms of the licensing agreements, Adocia will receive a total upfront payment of $50-million, development milestone payments up to $85 million, and will be reimbursed for some R&D expenses. Adocia also is expected to receive double-digit royalties on the sale of both products in the territories.
Adocia retains the rights to develop and license the two insulin programs in worldwide markets outside of the territories covered by the agreements, including the U.S., Europe and Japan.
“In China, Dongbao has a strong reputation and has a leading position with the production of high quality insulins, which allows us to compete with the major global players,” Yikui Li, president of Tonghua, said in a statement.
“We have successfully in-licensed BioChaperone Combo in order to increase our market share,” he added. “In addition, BioChaperone Lispro offers the opportunity for a best in class ultra-rapid prandial insulin.”
In China, where more than 100 million people live with diabetes, these products aim to improve glycemic control for people who require premix or prandial insulins.