iX Biopharma enters cooperation deal with China Resources Pharmaceutical Commercial Group

Sharon See
Published Tue, Apr 6, 2021 · 10:31 PM

PHARMACEUTICAL company iX Biopharma has entered into an agreement with China Resources Pharmaceutical Commercial Group Co (CRPCG), which could pave the way for its product to be manufactured and distributed in China, the Catalist-listed company said in an exchange filing on Tuesday.

Under the strategic cooperation agreement, iX Biopharma and CRPCG will engage in "all-round cooperation" with respect to iX Biopharma's pipeline of sublingual pharmaceutical and nutraceutical products in China, the company said.

The parties will determine the appropriate products and model of cooperation, which may be via licensing or joint venture, it added. CRPCG will then undertake the full scope of operation in China, including registration, manufacturing, distribution and promotion.

This follows iX Biopharma's development of a patented drug-delivery platform technology called WaferiX. The company said it delivers drug under the tongue through the mucosa for better absorption, faster onset of action and predictable effect.

It added that this is particularly useful for drug repurposing, which is when existing approved drugs are used for new therapeutic purposes, a growing trend with a global market worth US$34 billion.

CRPCG is part of the China Resources Pharmaceutical Group, the second largest pharmaceutical manufacturer in China.

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The strategic-cooperation agreement serves as a guidance for the future long-term cooperation between the parties, and as a basis for binding contracts to be entered into by the parties, iX Biopharma said.

iX Biopharma shares fell 0.5 Singapore cent or 2.17 per cent to close at 22.5 Singapore cents on Tuesday.

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