Synmosa Signs NT$420 million Deal with Hemony Pharma

Date:2016.05.03

In less than six months, Synmosa Biopharma (TPEx:4114) has brought to bear its proprietary technologies for treating respiratory disorders to repeatedly forge new business ties in mainland China's pharmaceutical industry, including establishing an alliance between Synmosa's subsidiary Intech Biopharm and Beijing Saike Pharmaceutical Industry — itself a subsidiary of the central state-owned enterprise China Resources Pharmaceutical Group (CRC), the second largest pharmaceutical company in mainland China. In the wake of the alliance, which comprises a strategic cooperation for integrating Synmosa's MDI technology platform into a saleable product and included signing a master distributor agreement for the sale of a budesonide metered-dose inhaler (MDI) in the China region, Synmosa today announced the signing of a new product licensing deal with Tibet Hemony Pharma Co., Ltd for the sale of Besonin® (budesonide nasal spray). The agreement, which includes assignment and transfer of all relevant regulatory permits and distribution rights for the mainland China region, is valued at a total of NT$420 million (about US$13.8 million). 

Besonin®, a type of nasal spray, is the product of many years of development through one of Synmosa's five key pharmaceutical technology platforms and represents one of the Synmosa Group's flagship products for sale in the mainland China market. Actein® (effervescent tablet) is another pharmaceutical product developed through Synmosa's effervescent tablet technology platform. An import drug license (IDL) application has already been submitted for the drug in mainland China, and PRC's regulatory authority also recently approved the drug to begin undergoing clinical trials. It is estimated that the IDL for Actein® will be obtained by as soon as the end of 2016. The Synmosa Group has been gradually expanding its presence in mainland China for over 15 years with a primary focus on drugs used in the treatment of respiratory illnesses. By making full use of its proprietary technology platforms, the Group is anticipated to continue along its current trajectory as a leading distributor of specialty pharmaceuticals in Taiwan and mainland China.