Shanxi Taxus, Cardium Therapeutics Enter Partnership

China’s Shanxi Taxus’ investment in US firm Cardium Therapeutics for the development of two new drugs will also give both companies access to each others’ home markets.

AsianScientist (Mar. 12, 2014) – Shanxi Taxus Pharmaceuticals Co., Ltd. and its affiliate Shenzhen Frontsea Taxus Industry Capital Management have entered into a collaboration and funding arrangement with Cardium Therapeutics Inc. The company’s name will be changed to Taxus Cardium Pharmaceuticals Group in connection with the strategic collaboration.

The deal includes up to US$5 million to support the commercial development of regenerative therapeutics Generx and Excellagen for the Chinese market, as well as give Taxus oncology-focused products opportunities in the US market.

In January 2014, Cardium reported encouraging initial clinical pilot study findings from its ASPIRE international Phase III registration clinical study, which is designed to confirm the continued safety and effectiveness from four previously completed clinical studies of Generx as an interventional gene therapy for the potential treatment of cardiac microvascular insufficiency, a condition that leads to heart blockages.

Excellagen is an FDA-cleared, acellular biological skin substitute designed as a professional-use advanced wound care product for the treatment of chronic non-healing diabetic foot, venous and pressure ulcers, which also has multiple additional potential tissue regeneration applications based on stem cells and other biologics.

“We are very pleased to enter into a strategic collaboration with a developer of innovative new therapies for the potential treatment of major medical indications, including cardiovascular disease and advanced wound care which has major applications for use in patients with diabetes, a condition that is already large and rapidly growing, in the U.S., China and throughout the world,” stated Mr. Jiayue Zhang, Chairman of Shanxi Taxus Pharmaceuticals.

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Source: Cardium Therapeutics.

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