Ashlins Pharmaceuticals and Lee's Pharm Announce Exclusive License and Supply Agreement Valued at Up to $31 Million

Lee’s is eligible to receive up to $31 million in upfront and milestone payments.

NEW YORK--(BUSINESS WIRE)--Ashlins Pharmaceuticals today announced that its wholly owned subsidiary, Ashlins Ocular Pharmaceuticals, Inc., has entered into an exclusive license and supply agreement with Lee’s Pharmaceutical Holdings Limited (HKEX: 0950), a publicly listed biopharmaceutical company with more than 30 years of industry experience.

Under the agreement, Ashlins has obtained exclusive rights to develop and commercialize certain drug products incorporating Lee’s Pharm’s interferon alpha-2b active pharmaceutical ingredient (API) in all territories outside Mainland China, Hong Kong, Macau and Taiwan. Lee’s Pharm will supply the API and is eligible to receive up to $31 million in upfront, development and annual commercial milestone payments, subject to specified conditions.

Interferon alpha-2b is a recombinant human type I interferon used as the active substance in medicines with antiviral and immunomodulatory activity.

“We believe this program has the potential to develop into a valuable therapeutic option for patients with limited treatment alternatives,” said Jennifer Lin, Chief Executive Officer of Ashlins Pharmaceuticals. “This agreement advances Ashlins’ initiative of acquiring clinically validated assets that can benefit from focused U.S. development and commercialization. By combining Ashlins’ development capabilities with Lee’s Pharm’s extensive pharmaceutical and manufacturing experience, we believe we are well-positioned to advance the program efficiently.”

“We are pleased to collaborate with Ashlins and support the development of our interferon alpha-2b API outside Mainland China, Hong Kong, Macau ,and Taiwan,” said Ms. Wanee Lee, Managing Director of Lee's Pharmaceutical Holdings Limited. “Ashlins offers a focused U.S. development and commercialization strategy for the program, enabling us to direct more of our internal resources toward core portfolio assets, while allowing Lee's Pharm to participate in the program's long-term success.”

About Ashlins Pharmaceuticals

Ashlins Pharmaceuticals is a U.S.-based biopharmaceutical company focused on acquiring, developing and commercializing clinically validated therapies that address areas of significant unmet medical need. Ashlins' leadership team brings experience advancing medicines through U.S. clinical development, FDA approval, and commercialization. The company evaluates opportunities supported by established scientific rationale, prior clinical experience, and existing therapeutic use. More information is available at ashlinspharma.com.

About Lee’s Pharm

Lee’s Pharmaceutical Holdings Limited is a research-driven biopharmaceutical company integrated across drug development, clinical development, regulatory affairs, manufacturing, sales, and marketing. With more than 30 years of industry experience, Lee’s Pharm has established partnerships in the United States, Europe and Asia and currently markets more than 25 pharmaceutical products in Greater China. More information is available at leespharm.com.