YONGIN, South Korea,
Feb. 13, 2018 /PRNewswire/ -- GC
Pharma (formerly known as Green Cross Corporation) (KRX: 006280), a
South Korean biopharmaceutical company, and Lee's Pharmaceutical
(HK) Limited, a wholly-owned subsidiary of Lee's Pharmaceutical
Holdings Limited ("Lee's Pharm") (SEHK:
0950) today announced
that they have entered into an agreement granting Lee's Pharm
exclusive rights to develop and commercialise GCC-4401C, GC
Pharma's investigational oral Factor Xa inhibitor anticoagulant
which currently completed Phase I
clinical development in the U.S. for the prevention and treatment
of thromboembolic disease.
Under the terms of the agreement, Lee's Pharm receives exclusive
rights to develop and commercialise the anticoagulant for the
greater China and South East Asian
market. GC Pharma will receive an undisclosed up-front payment and
is eligible to receive milestone payments and royalties on future
net sales.
"China and the surrounding
Asian markets represent a significant opportunity for oral Factor
Xa inhibitor," said Joon Soo Ryu,
Ph. D., vice president of GC Pharma. "We need to have a partner
having strong expertise in the
Chinese market and we are delighted to further enhance the value of
GCC-4401C through this partnership with Lee's Pharm."
"The Group is currently the
market leader in the
anti-thrombotic area, including Livaracine, our proprietary low
molecular weight heparin. We have a robust pipeline of
anti-thrombotics, such as a Phase
II anti-platelet drug, Anfibatide, a Phase III Warfarin like
anticoagulant, Tecarfarin and a synthetic anti-thrombotic agent,
Fondaparinux," said Dr. Benjamin
LI, Chief Executive of Lee's Pharm. "The Factor Xa inhibitor
anticoagulant, GCC-4401C, complements the Group's existing products and pipelines
which can further enhance the Group's market position in
anti-thrombotic area.''
About GCC-4401C
GCC-4401C, GC Pharma's investigational drug, directly inhibits
the activity of Factor Xa, an important validated target in the
blood coagulation pathway, to prevent thrombosis. GCC-4401C has the
potential to become the best in class of active factor Xa
inhibitors available, as it shows
similar efficacy but less bleeding side effects in a Pre-clinical study and a Phase I clinical study. This research was
supported by Korea Drug Development Fund, funded by Ministry of Science and ICT,
Ministry of Trade, Industry, and Energy, and Ministry of Health and
Welfare (KDDF-201210-04, Republic
of Korea). GCC-4401C was originated by Legochem Bioscience and
licensed to GC Pharma in 2009.
About GC Pharma
GC Pharma (formerly known as Green Cross Corporation) is a
biopharmaceutical company that delivers life-saving and
life-sustaining protein therapeutics and vaccines. Headquartered in
South Korea, GC Pharma is the
largest plasma protein product manufacturer in Asia and has been dedicated to quality
healthcare solutions more than half a century. Green Cross
Corporation updated its corporate
brand as GC Pharma in early 2018. Green Cross Corporation remains
the company's registered, legal name.
About Lee's Pharm
Lee's Pharm is a research-based Hong
Kong biopharmaceutical company listed in Hong Kong with more than 20 years of operation
in China's pharmaceutical
industry. It is fully integrated with strong infrastructures in
drug development, manufacturing, sales and marketing. It has
established extensive partnerships
with more than 20 international companies and currently has 14
products in the market place. Lee's Pharm focuses on several key
disease areas such as cardiovascular, oncology, gynecology,
dermatology and ophthalmology. The company's development program is
lauded with over 50 products stemming from both internal R&D
efforts and collaborations with US, European and Japanese
companies, including promising compounds to treat diseases such as
liver cancer and pulmonary hypertension. The mission of Lee's Pharm
is to become a successful biopharmaceutical group in Asia providing innovative products to fight
diseases and improve health and quality of life.
Additional information about Lee's Pharm is available at
www.leespharm.com.
This release includes forward-looking statements, which
express the current beliefs and expectations of GC Pharma's and
Lee's Pharm's management. Such statements speak only as of the date
on which they are made and the company undertakes no obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
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SOURCE GC Pharma