OncoZenge AB (publ), a pharmaceutical company dedicated to the development of solutions for oral pain relief, today announces that Eurosin Capital AB has been retained as advisors to explore strategic options for the introduction of BupiZenge™ in China.
”The Chinese market represents a significant opportunity for BupiZenge. More than 4 million people are diagnosed with cancer in China every year. With the typically high prevalence of oral mucositis during cancer treatments there is a clear need for safe and effective, local, non-opioid pain relief. China is a particularly important market given the very restrictive use of opioid based treatments for pain relief” says Daniel Ehrenstråhle, Chairman of OncoZenge. “Our ongoing efforts in other markets, such as Europe, are not impacted by this addition to our strategy and will continue according to our previous communications.”
The initiative to seek a strategic partner for a transaction in China comes on the back of the recent filing of a new patent that opens-up for new licensing and partnerships, globally. When approved, the patent provides enhanced support for the most recent formulations of BupiZenge™ and additional support to OncoZenge partners and licensees until 2045.
Eurosin Capital is a leading corporate finance and advisory firm specialized in partnerships, mergers & acquisitions, and investments between the Nordic region and Asia, with an emphasis on China. ”We are very positive to working with OncoZenge to secure the right partner for accelerating the introduction of BupiZenge in China”, says Harry Li, CEO of Eurosin Capital. “We have already validated the patient needs for this drug candidate with some of China’s largest and leading cancer hospitals, and we have identified several interested parties for a potential collaboration. We look forward to assisting OncoZenge with this opportunity to commercialize their innovation in the Chinese market.”
OncoZenge envisions that a potential collaboration with a Chinese party may take one of several forms, including but not limited to;
- Divestment of rights for the Chinese market, an outright sale of rights to develop and commercialize BupiZenge™ in China.
- Joint Venture investment with a strategic investor or local pharmaceutical company to conduct a Phase 3 clinical trial designed for approval in China.
- A traditional licensing agreement, e.g., a partnership with a Chinese pharmaceutical company licensing BupiZenge™ for market exclusivity, with upfront payments and milestone considerations.
“OncoZenge is excited to announce this significant step forward in our ambition to bring BupiZenge to patients in China who suffer from cancer treatment-related pain. Securing extended patent protection strengthens our position, and our partnership with Eurosin Capital brings valuable expertise to navigate the Chinese market. This collaboration will expedite BupiZenge's path to market in China, offering improved pain management options to a vast patient population while generating potential near-term commercial benefits for OncoZenge.” - Stian Kildal, CEO of OncoZenge