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Marinomed Biotech Signs a License Agreement with Luoxin to Commercialize Budesolv (budesonide nasal spray) in Greater China

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Marinomed Biotech Signs a License Agreement with Luoxin to Commercialize Budesolv (budesonide nasal spray) in Greater China

Tuba Khan

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

Click here ­to­ read full press release/ article | Ref: Marino Med | Image: News Medical

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