Luye Pharma Group (Luye Pharma) today announced that its subsidiary Luye Pharma Switzerland AG has entered into an agreement with Changchun GeneScience Pharmaceutical Co., Ltd. (Gensci), under which the company grants Gensci the exclusive, non-transferable, sub-licensable and perpetual commercialization rights of Rivastigmine Single-Day Transdermal Patch (Rivastigmine SD) and Rivastigmine Multi-Day Transdermal Patch (Rivastigmine MD) on the Chinese mainland.
Rivastigmine Transdermal Patches are used to treat mild to moderate Alzheimer's disease (AD). They are developed and produced by Luye Pharma on its proprietary transdermal patch platform in Europe. The patches come in two forms: Rivastigmine SD, which is used once daily, and Rivastigmine MD, used twice weekly. Rivastigmine SD has been launched in multiple countries and regions around the world, including the United States, Europe and China. Rivastigmine MD received marketing authorization in multiple European countries this year, and has been approved for clinical trials in China.
Under the terms of the agreement, Luye Pharma grants Gensci the exclusive, non-transferable, sub-licensable and perpetual commercialization rights for the import, promotion, marketing, sale and use of Rivastigmine SD and Rivastigmine MD on the Chinese mainland, while Luye Pharma continues to own the asset rights, the registration permit and other rights other than the commercialization rights in the region. Gensci will make an upfront payment of RMB 70 million to Luye Pharma upon signing the agreement. The total payment of this agreement is up to RMB 216 million.
Commenting on the partnership, Dr. Jin Lei, General Manager of GenSci, said: "AD is a neurodegenerative disease with a rapidly increasing number of patients. Existing treatment options are very limited. Due to their convenience in use, Rivastigmine Transdermal Patches can improve the medication management for patients and their caregivers. We look forward to working together with Luye Pharma to provide an additional treatment option for AD patients. We also look forward to further expanding our portfolio of products for treating central nervous system diseases with the adoption of these two products."
Yang Rongbing, President of Luye Pharma Group, said: "This partnership embodies our strategy of focusing on our areas of strength. By leveraging the expertise of partners like GenSci, we will increase the reach of our quality products to benefit more people in need. At the same time, we can also further consolidate our resources in core areas such as mental illness, and play a bigger role in these therapeutic fields to serve patients better."
About Rivastigmine Transdermal Patch
Rivastigmine is in a class of medicines called cholinesterase inhibitors. These medicines can improve cognitive functions such as memory and thinking by increasing the amount of a certain natural substance in the brain and amplifying the communication channels between nerve cells, which are less active in individuals with mild to moderate Alzheimer’s disease. The drug is currently available in the form of tablets and patches.
Rivastigmine transdermal patch is administered to the body through the skin. Compared with the oral formulation, the patch formulation is convenient for patients who have difficulty swallowing, and it might have the potential to lower the incidence of gastrointestinal adverse reactions such as nausea and vomiting. Rivastigmine Multi-Day Transdermal Patch, used twice-weekly, has a lower application frequency than the Rivastigmine Single-Day patch, enabling it to improve patients’ medication adherence.
Gensci was established in 1996, and is a subsidiary of Changchun High-tech Industry (Group) Inc. Gensci is a genetic engineering pharmaceutical enterprise integrating independent R&D, production, marketing and service. Gensci invests substantial amounts of funds every year for the R&D and construction of future product lines. At present, Gensci’s products under research cover the fields of children’s growth, women’s health, tumor, autoimmunity, ophthalmology, nervous system, metabolic diseases and others, which are establishing a leading position with core competitive advantages in many fields. Taking the improvement of human health and even the quality of life as the goal, Gensci will also continue to pay attention to the field of children’s growth, infertility, and anti-aging.