Under the terms of the agreement, BIAL will receive from Wanbang an upfront license fee of 2.5 million euros and up to 12.5 million euros in further milestones.
Ongentys® (Opicapone) is a new treatment for Parkinson’s Disease approved by the European Commission in June 2016
Porto, Portugal and Xuzhou, China, January 9th, 2018 - Bial and Wanbang Biopharmaceuticals, a subsidiary of Fosun Pharma announced today that they have entered into an exclusive license agreement for the importation, packaging and commercialization of Opicapone in China (excluding Hong Kong, Macao and Taiwan).
Under the terms of the agreement, BIAL will receive from Wanbang an upfront license fee of 2.5 million euros and up to 12.5 million euros in further milestones.
Ongentys® (Opicapone) is BIAL’s proprietary once-daily, peripherally-acting, highly-selective catechol-O-methyltransferase inhibitor (COMT inhibitor) that was approved in June 2016 by the European Commission as an adjunctive therapy to preparations of levodopa/DOPA decarboxylase inhibitors in adult patients with Parkinson’s disease and end-of-dose motor fluctuations who cannot be stabilized on those combinations1.
“BIAL is committed to addressing the needs of patients and healthcare professionals worldwide. This license agreement is a landmark on BIAL’s expanding strategy as it marks the entering of our products in such an important market like China.”, said António Portela, Chief Executive Officer of BIAL. “We are very pleased to work with Wanbang that shares our long-term vision for Ongentys® and are excited to bring this important new treatment option to Chinese Parkinson’s patients.”
“We are pleased to partner with BIAL to introduce Opicapone to China for patients with Parkinson’s disease.”, said Mr. Yifang Wu, Executive Director, President and Chief Executive Officer of Fosun Pharma, and Chairman of Wanbang. “We were impressed with the efficacy, safety and once-daily administration regimen of Opicapone. This collaboration will offer an alternative treatment for the unmet medical needs in China, and enrich the product portfolio of Wanbang and Fosun Pharma in the therapeutic area of CNS diseases, one of our strategic therapeutic areas. We look forward to collaborating with BIAL to import and commercialize Opicapone in China soon.”
Opicapone is marketed in European markets, like Germany, UK and Spain. BIAL anticipates additional EU launches of Opicapone over the current year.
Parkinson’s Disease is the second most severe neurodegenerative disease, with 7 to 10 million patients globally, next to Alzheimer’s disease. According to some Chinese studies, in China, the incidence rate of Parkinson’s disease in population over than 65 years is 1700/100.000, indicating a patient population of 100 thousand new cases every year2.
