SINGAPORE (Apr 27): iX Biopharma has entered into a 10-year licensing agreement with Yiling Pharmaceutical in China for the licensing, supply, and distribution of Wafesil, a fast-dissolving sublingual sildenafil wafer for the treatment of male erectile dysfunction.
Wafesil was formerly known as PheoniX.
Under the agreement, iX Biopharma will manufacture and supply Wafesil to Yiling at an agreed supply price. The agreement will also provide Yiling with marketing authorisation and an exclusive license to market and distribute the drug in China.
Yiling will pay iX Biopharma an upfront and certain milestone payments prior to the commercialisation of the drug, whereby the milestone payments will be made upon the completion of bioequivalence studies, and on the first commercial supply of wafers to Yiling. Yiling has agreed to fund such studies, and regulatory submissions necessary for the registration of the product in China.
Yiling estimates the first five years of sales in China for Wafesil to be around RMB 700 – 800 million (or $140.7 - $160.7 million).
See also: iX Biopharma secures licence to manufacture cannabis in Australia
As of 9.27am, IX Biopharma shares traded at 0.04 cents higher, or 18.7% up, at 0.24 cents.
