SAN JOSE, Calif.,May 30, 2018–Teikoku Pharma USA Inc. (“TPU”) today announced that it has entered into an exclusive license agreement with Link Health Group LTD (“Link Health”) to develop market, sell, and distribute TPU’s flagship product, Lidoderm®, in China. Lidoderm® offers relief of the pain associated with post-herpetic neuralgia (“PHN”). It is a combination of lidocaine in a soft hydrogel plaster combining efficacious treatment with proven tolerability, safety and simple handling.
Lidoderm® has been approved by the U.S. FDA and by the European authorities under the name Versatis®.
“We are very excited to license our Lidoderm® product to Link Health, who has in-depth expertise in the clinical development and approval process of products in China. We are confident that Lidoderm® can address unmet medical needs for the PHN patients in China,” said Paul Mori, Chief Executive Officer of TPU.
“We feel excited for the opportunity to distribute Lidoderm® in China, and we are also very confident in its registration and development, under the current policy by CFDA. Lidoderm® will be the first TPU product approved and will be the flagship product in market of China,” said Yan Song, the CEO of Link Health.
Under the terms of the agreement, Link Health will pay TPU near-term milestones, including an upfront cash payment, an additional milestone payment based upon the timing of CFDA approval, as well as sales milestones and double-digit royalties on net sales.
About LIDODERM®
LIDODERM® (lidocaine patch 5%) is comprised of an adhesive material containing 5% lidocaine, which is applied to a non-woven polyester felt backing and covered with a polyethylene terephthalate (PET) film release liner. The release liner is removed prior to application to the skin. The size of the patch is 10 cm x 14 cm.
About Teikoku Pharma USA
Teikoku Pharma USA Inc., located in San Jose, California, is a wholly-owned subsidiary of Teikoku Seiyaku Co., LTD. of Japan, an international specialty pharmaceutical company that develops and manufactures pharmaceutical products based on its delivery platform technologies.
TPU’s main products are Lidoderm® (Lidocaine 5% Patch) for PHN, developed by TPU and distributed by Endo Pharmaceuticals in the U.S., Grunenthal GmbH in Europe and Latin America as Versatis®, and Mundipharma Medical Company Limited in Asia-Pacific region, and Docetaxel Alcohol Free Injection marketed by Eagle Pharmaceuticals in the U.S.
About Link Health Group
Link Health Group, Ltd. is a leading Chinese pharmaceutical company whose focus is based on innovation discovery and development of drugs for unmet medical needs. The company is based in South China and currently has a pipeline covering 9 innovative drugs under development. Link Health has its know-how center established since early this year in Amsterdam, Netherlands, and a satellite office in UK. The Headquarter in China will remain its function for operation including registration, development, manufacturing and distributions.
Teikoku Pharma USA Inc.
Francisco Bejar
fbejar@teikokuusa.com