TaiGen, HEC ChangJiang To Jointly Develop Chronic Hep C Treatments

The new company will develop, manufacture and commercialize treatments for chronic Hepatitis C virus infection in the Greater China region.

AsianScientist (Nov. 11, 2016) – TaiGen Biopharmaceuticals Co. (Beijing), Ltd. and YiChang HEC ChangJiang Pharmaceutical Co., Ltd (HEC) will establish a new company in mainland China that develops treatments for the chronic hepatitis C virus (HCV) infections.

According to estimates from the World Health Organization and IMS Health, the number of patients with chronic HCV infection in mainland China ranges from 10-40 million, making it the largest HCV market in the world. At present, less than ten percent of HCV patients receive treatment due to low awareness of the disease as well as the severe, intolerable side effects of interferon-based treatment.

The company will be the first of its kind in a cross-strait partnership in the pharmaceutical industry. Under the terms of the Agreement, the company will be capitalized at RMB680 million (~US$102 million), and will undertake the joint development, manufacturing, and commercialization of direct-acting antiviral agents (DAAs) in mainland China, Taiwan, Hong Kong and Macau.

TaiGen will use the intellectual property rights of antiviral drug furaprevir in Greater China as contribution in kind for 49 percent equity in the company. Furaprevir was granted priority review from China’s Center for Drug Evaluation in April 2016, and TaiGen is the only Taiwanese firm among the seven companies that receive priority review.

HEC will use the intellectual property rights of antiviral drug yimitasvir in Greater China as contribution in kind and an additional cash investment in exchange for 51 percent equity in the company.


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Source: TaiGen Biotechnology Co., Ltd.; Photo: Shutterstock.
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