Business
Unicycive Announces Exclusive License and Development Agreement with Lee’s Pharmaceutical Holdings Limited for Renazorb in China and Certain Other Asian Markets
Expands and accelerates Renazorb opportunity in important markets for patients with hyperphosphatemia through local partner with deep domain expertise
About this update from Unicycive Therapeutics, Inc.
[{"type":"text","content":"Expands and accelerates Renazorb opportunity in important markets for patients with hyperphosphatemia through local partner with deep domain expertise Agreement includes upfront payment, royalties and milestone payments LOS ALTOS, Calif., July 18, 2022 (GLOBE NEWSWIRE) -- Unicycive Therapeutics, Inc. (Nasdaq: UNCY), a clinical stage biotechnology company developing therapies for patients with kidney disease, today announced that the Company has entered into an agreement granting exclusive rights to develop, market and commercialize Renazorb® (lanthanum dioxycarbonate) to Lee's Pharmaceutical (HK) Limited, a wholly-owned subsidiary of Lee’s Pharmaceutical Holdings Limited (“Lee’s Pharm”) (SEHK: 950), in Mainland China, Hong Kong, and certain other Asian markets. Renazorb is Unicycive’s novel phosphate binding agent being developed for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients. \"We are delighted to partner with Lee’s Pharm for the development and marketing of Renazorb in China, one of the world's largest markets for end-stage renal disease (ESRD), where we believe our novel phosphate binding agent will bring significant benefit to patients with hyperphosphatemia,” said Shalabh Gupta, M.D., Chief Executive Officer of Unicycive. “Lee’s Pharm has the clinical, regulatory and commercial expertise in these Asian markets and we are confident this relationship will maximize the market opportunity for our proprietary nanotechnology-based asset in these territories while bringing meaningful benefit to patients. Unicycive owns global rights for Renazorb and by partnering Renazorb in select Asian countries, we begin to unlock its value for patients, physicians and for our shareholders.” Under the terms of the agreement, Lee Pharm will be responsible for development, registration filing and approval for Renazorb in the licensed territories. In addition, Lee Pharm will have sole responsibility for the importation of the drug product from Unicycive and for the costs of commercialization of Renazorb in the licensed territories. Unicycive will receive an upfront payment of $1.0 million upon signature and up to $1.0 million in milestone payments upon product launch in China and will be eligible for tiered royalties upon achievement of prespecified regulatory and commercial achievements. “The global renal disease ...