Orion enters into exclusive agreement with Jemincare for novel non-opioid drug candidate for the treatment of pain

ORION CORPORATION
PRESS RELEASE
6 MAY 2022 at 9.00 EEST

Orion enters into exclusive agreement with Jemincare for novel non-opioid drug candidate for the treatment of pain

Orion Corporation has entered into an agreement with Chinese Jemincare, through which Orion will receive exclusive global development and commersialisation rights, excluding the Greater China area (mainland China, Hong Kong, Macau and Taiwan), for a potent and selective NaV 1.8 blocker for the treatment of acute and chronic pain. Orion will also receive ownership to certain key patent applications relating to the compound within its own territory.

According to the agreement, Orion has the right to develop and commercialise the asset in its territory. Orion will be fully responsible for its own development and commercialisation costs. In addition, Orion will manufacture the products, including active pharmaceutical ingredient, for its markets.

Under the terms of the agreement, Orion will pay Jemincare a EUR 15 million upfront payment, in addition to which Jemincare is upon achievement of certain development, commercialisation and sales targets entitled to receive milestone payments, which may be significant. In addition, Jemincare is eligible to receive tiered royalty of 8% to 15% on future sales in Orion territory.

“We are excited about this agreement and are looking forward to taking this compound to clinical studies later this year. Pain is one of the most frequently reported reasons for a patient to visit a health care provider and it generates a significant societal burden in terms of health care utilisation and lost productivity. There is a high unmet need for new non-addictive treatment options with improved efficacy and safety profiles. NaV 1.8 channel is known pain transmission pathway and is thus a promising target for novel pain treatments”, said Professor, M.D., Ph.D. Outi Vaarala, Senior Vice President of Research and Development at Orion.

“JMKX000623 is a potent and selective Nav1.8 blocker independently developed by Jemincare and we have received IND approval in China in March 2022. We are delighted to enter into collaboration with Orion Corporation to bring this promising therapy to benefit patients in the rest of the world. This is our second innovative therapy partnered globally. We look forward to work closely with Orion, a partner having rich experience in the development of therapeutics in neurology and pain area, to take this compound to clinical trials”, said Mr. Hong Liang, President of Jemincare Pharmaceutical Group.

About NaV 1.8 as a target for the treatment of pain

Electrical activation of nociceptive sensory neurons is essential physiological process for pain transmission where information is relayed from peripheral tissues to central nervous system and to brain where pain perception takes place. NaV 1.8 is one of the pivotal sodium channel subtypes modulating excitability of pain fibers. The fundamental role NaV 1.8 plays in pain transmission has been demonstrated in preclinical studies and validated genetically and pharmacologically in acute and chronic pain clinical trials investigating selective NaV 1.8 blocking agent. Currently no drugs selectively targeting NaV 1.8 are in the market yet.

About Jemincare

Jiangxi Jemincare Group Co., Ltd. is a leading pharmaceutical company from China. Founded in 1999, Jemincare group has over 10,000 employees dedicated to the development, manufacturing and commercialisation of therapeutics in its strategic fields including oncology, nephrology, cerebro-cardiovascular, anti-infection, analgesic, respiratory and Pediatrics. Shanghai Jemincare Pharmaceutical Co., Ltd is the R&D center of Jiangxi Jemincare Group Co., Ltd. Shanghai Jemincare has developed into a strong team with around 500 scientists comprised by 3 innovation centers, Small Molecule Innovative Center, Biologics Innovation Center and Technology Innovation Center. The Nav1.8 program was developed by the Small Molecule Innovation Center which has more than 10 programs entering IND or IND-enabling stage and 3 programs entering clinical stage. For more information, please visit www.jemincare.com

Contact person:
Tuukka Hirvonen, Investor Relations, Orion Corporation
tel. +358 10 426 2721

Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
www.orion.fi

Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion’s pharmaceutical R&D are neurological disorders, oncology and respiratory diseases for which Orion develops inhaled pulmonary medication. Orion’s net sales in 2021 amounted to EUR 1,041 million and the company had about 3,350 employees at the end of the year. Orion’s A and B shares are listed on Nasdaq Helsinki.