NANJING, China & VANCOUVER, British Columbia--(BUSINESS WIRE)--Simcere Pharmaceutical Group, a leading pharmaceutical company in China, and Primary Peptides Inc., a privately held biotech company in Canada, today announced a collaboration and exclusive license agreement to develop and commercialize an innovative product for the treatment of stroke.
Under the terms of the agreement, Simcere receives exclusive rights to develop and commercialize in China, including the mainland, Hong Kong, Macau and Taiwan while Primary Peptides retains rights in all other markets. Financial terms were not disclosed.
“Simcere is pleased to collaborate with Primary Peptides, a world leader in development of innovative peptide therapeutics,” commented Dr. Peng Wang, Senior VP of Simcere. "Simcere keeps looking for innovative research around the world and this partnership opportunity definitely will help us develop better and more effective therapies for stroke patients.”
Dr. Max Cynader, CEO of Primary Peptides, said “Simcere is a large pharmaceutical company with a proven track record of business success and clinical development leadership and we are excited to form this exclusive partnership for a new therapeutic with Simcere in China. Brain protection following stroke represents a large unmet medical need, and this new peptide therapeutic has the potential to improve the lives of many stroke victims.”
About Simcere Pharmaceutical Group
Simcere is a research and development-driven Chinese pharmaceutical company with a State Key Lab for Translational Medicine and Innovative Drug Development. It is committed to delivering highly effective treatments to patients. Simcere achieves this by focusing its efforts on the therapeutic areas of oncology, neurology, inflammation/immunology diseases and more. By leveraging its commercial capability, all of the company’s best products have achieved leading market shares in China. Simcere continues to promote the advancement of international scientific and medical breakthroughs through a collaborative R&D strategy and extensive strategic partnership with several multinational companies.
For more information, please visit: www.simcere.com
About Primary Peptides Inc
Primary Peptides is a clinical-stage biotech company that has developed a proprietary platform technology enabling it to identify, target, and disrupt specific protein-protein interactions. Our peptides can also replace antisense and siRNA technology platforms in many indications with greater specificity and greater temporal precision. Primary Peptides has developed lead compounds in several disease indications with unmet medical needs.
For more information, please visit: www.primarypeptides.com