(Yicai Global) Sept. 7 -- Chinese pharmaceutical developer Tasly Holding Group will grant US-based Arbor a sole license to market its traditional Chinese medicine for cardiovascular diseases to expedite the drug's US clinical testing and marketing. It is the first TCM to ever make it to US Food and Drug administration Phase III trials.
Tianjin-headquartered Tasly and its US unit, Maryland-based Tasly Pharmaceuticals, in which Tasly holds 90 percent, signed a licensing agreement with Atlanta, Georgia-based Arbor Pharmaceuticals yesterday, Tasly announced the same day.
Arbor will invest up to USD23 million in clinical research and development and application for approval of the compound Danshen dripping pills by the US Food and Drug administration in collaboration with Tasly and its US affiliate, for which Arbor will receive a paid exclusive marketing license, per the agreement.
Tasly and its US unit will receive up to USD50 million and up to 50 percent of the gross profit in royalties when the pills appear on the market.
Compound Danshen dripping pills are made of a modern compound TCM Tasly exclusively developed that prevents and cures cardiovascular diseases. It is derived from extracts of red sage root and Chinese ginseng root. The FDA Phase III clinical research has concluded on the medication.
Double blind tests [tests in which neither test subjects nor administrators know which is the control group and which is the experimental group] random controlled trials and acute mountain sickness clinical research is underway in the US state of California, the announcement added.
This cooperation will facilitate entry of the medicine into the local market using Arbor's mature sales network and rich resources in the US cardiovascular field. It paves the way for further cooperation and entry of more of the company's TCM medicine into the US market.
Editor: Ben Armour