– Closing of two additional license and supply agreements for the commercialization and marketing of Veregen® –
MediGene AG (Frankfurt, Prime Standard, TecDAX) has signed two further license and supply agreements for the commercialization and marketing of Veregen®. These have been signed with GC-Rise Pharmaceutical Co., Ltd. in China and JS Bio Pharm Co., Ltd. in South Korea.
GC-Rise will conduct the clinical trials of Veregen® (for the treatment of genital warts) that are required for approval of the ointment in China, and will be responsible for all the regulatory and approval procedures thereafter. MediGene will receive a one-time payment upon execution of the agreement and a further milestone payment upon initiation of the first clinical trial in China. In addition, MediGene will profit from supplying GC-Rise with the drug product. GC-Rise expects market launch in China at the end of 2013.
JS Bio Pharm will promote and distribute Veregen® for the treatment of genital warts, and will also be responsible for all regulatory procedures and for obtaining approval of the drug in South Korea. MediGene will receive royalties and a milestone payment contingent on the level of sales achieved. In addition, MediGene will profit from supplying JS Bio Pharm with the drug product. JS Bio Pharm expects to launch the drug on the South Korean market during 2012.
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