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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
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»09/09/2009 [Industry news]
Cleveland Biolabs Inc. and Zhejiang Hisyn Pharmaceutical Co. Enter License Agreement for Protectan CBLB612 Hematopoietic Stem Cell Stimulator and Mobilizer in China

Under the terms of the license agreement, Cleveland BioLabs will receive upfront product development payments of $1.65 million.

 
Cleveland BioLabs, Inc. and Zhejiang Hisun Pharmaceutical Co. Ltd. , a leading pharmaceutical manufacturer in the People\' Republic of China, today announced the execution of a license agreement granting Hisun exclusive rights to develop and commercialize Protectan CBLB612 in China. Under the terms of the license agreement, Cleveland BioLabs will receive upfront product development payments of $1.65 million. Zhejiang Hisun will be responsible for all development and regulatory approval efforts for Protectan CBLB612 in China. In addition, Zhejiang Hisun will pay Cleveland BioLabs a 10% royalty on net sales over the 20-year term of the agreement. This royalty may decrease to 5% of net sales only in the event that patents for CBLB612 are not granted. Cleveland BioLabs will retain all rights to CBLB612 in the rest of the world. Protectan CBLB612 is a proprietary synthetic agent that acts as a potent stimulator of hematopoietic stem cell proliferation and mobilization to peripheral blood in both mice and non-human primates. Michael Fonstein, Ph.D., President and Chief Executive Officer of Cleveland BioLabs, commented, \"We are very excited about the commercial validation provided by this license agreement for CBLB612. Zhejiang Hisun is a leading manufacturer of oncology products for the Chinese market. Our access to pre-clinical and clinical data generated by Hisun for Chinese State Food and Drug Administration approval will provide valuable insights for our own developmental efforts.\" \"We have established Protectan CBLB612\'s activity as a mitigator of myelosuppression caused by cyclophosphamide (Cytoxan, Neosar, CTX) in mice, as well as its ability to protect lethally irradiated mice and non-human primates from radiation-induced mortality. In fact, many of our studies with CBLB612 in mice and non-human primates showed favorable comparisons of a single injection of Protectan CBLB612 to multiple injections of granulocyte-colony stimulating factor or G-CSF (Neupogen®, Granocyte®, Neulasta®), a common therapeutic approach for increasing the amount of hematopoietic stem cells in blood,\" continued Dr. Fonstein. \"Protectan CBLB612 may play a significant role in improving treatment options for people with cancer,\" commented Hua Bai, President and Chief Executive Officer of Zhejiang Hisun. \"Preliminary demonstrations of CBLB612\'s potential as a powerful modulator of the immune system and inducer of hematopoietic stem cells warrant further clinical studies as part of Zhejiang Hisun\'s growing oncology drug pipeline. We believe a drug with these properties would be extremely valuable to physicians and cancer patients in China.\"

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