Marinomed Biotech Signs a License Agreement with Luoxin to Commercialize Budesolv (budesonide nasal spray) in Greater China
Shots:
- Marinomed to receive $2M up front & is eligible to receive milestones upon achievement of development- regulatory & commercial milestones along with royalties on sales of Budesolv in Greater China
- Luoxin will co-develop Budesolv- a new formulation of the glucocorticoid budesonide in China & will lead the clinical development & obtain the Chinese marketing authorization. Budesolv has completed a P-III clinical study for marketing authorization in the EU
- Luoxin holds exclusive rights for development- manufacture & commercialize Budesolv in China including mainland- Hong Kong- Macao & Taiwan for allergic rhinitis & is responsible for manufacturing & marketing Budesolv
| Ref: Marino Med | Image: News Medical
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