Kintor pharmaceutical has signed an agreement to authorize Shanghai Fosun Pharmaceutical Development to commercialize its drug, proxalutamide, in India and Africa.
Proxalutamide, a non-steroidal anti-androgen, is being manufactured as the potential therapy for treating COVID-19 and also for prostate and breast cancers, for which Kintor and Fosun will work together.
The licensing agreement between the two gives exclusive rights to Fosun Pharma to market the drug in regions of India and Africa.
Kintor will be receiving $86.6 million upfront and milestones payment in this partnership, including $17 million as upfront and development milestone payment and approximately $70 million for achieving commercialization milestone. Besides, the company will also be getting royalties up to 50% of the total operating profit earned from the shared regions.
Earlier this year, US Food and Drug Authority (FDA) and Brazilian Health Regulatory Agency (ANVISA) have given Kintor the permission to carry out phase III trials of proxalutamide in COVID-positive patients.
Two outpatient phase III Multi-Regional Clinical Trials (MRCT) and one inpatient MRCT of the drug, for COVID-19 patients, is currently ongoing in US, South America, the European Union and Asia.
Dr Tong Youzhi, the founder, chairperson and CEO of the Kintor Pharmaceuticals said, “Kintor hopes to accelerate Emergency Use Authorisations (EUA) for proxalutamide in developing countries severely affected by the pandemic to improve the lives of patients infected with COVID-19.”
He further added, “With Fosun Pharma Group’s excellent abilities in registration and commercialisation overseas, we hope to achieve win-win in the collaboration regions, so that more COVID-19 patients can be benefited from proxalutamide.”
Some extraordinary results from the proxalutamide trials had been reported by Kintor in Brazil this March, with a significant decline in mortality rate (around 92%) among the hospitalized COVID-positive patients.
Kintor and Fosun sign licensing agreement to market Covid-19 drug in India and 28 African nations
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