Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
STOCKHOLM, SWEDEN - March 11, 2024 - OncoZenge AB (publ), a pharmaceutical company dedicated to the development of innovative solutions for oral pain relief, today announces that Eurosin Capital AB has been retained as advisors to explore strategic options for the introduction of BupiZenge™ in China.
"The Chinese market represents a significant opportunity for BupiZenge. More than 4 million people are diagnosed with cancer in China every year. With the typically high prevalence of oral mucositis during cancer treatments there is a clear need for safe and effective, local, non-opioid pain relief. China is a particularly important market given the very restrictive use of opioid based treatments for pain relief" says Daniel Ehrenstråhle, Chairman of OncoZenge. "Our ongoing efforts in other markets, such as Europe, are not impacted by this addition to our strategy and will continue according to our previous communications."
The initiative to seek a strategic partner for a transaction in China comes on the back of the recent filing of a new patent that opens-up for new licensing and partnerships, globally. When approved, the patent provides enhanced support for the most recent formulations of BupiZenge™ and additional support to OncoZenge partners and licensees until 2045.
Eurosin Capital is a leading corporate finance and advisory firm specialized in partnerships, mergers & acquisitions, and investments between the Nordic region and Asia, with an emphasis on China. "We are very positive to working with OncoZenge to secure the right partner for accelerating the introduction of BupiZenge in China", says Harry Li, CEO of Eurosin Capital. "We have already validated the patient needs for this drug candidate with some of China's largest and leading cancer hospitals, and we have identified several interested parties for a potential collaboration. We look forward to assisting OncoZenge with this opportunity to commercialize their innovation in the Chinese market."
OncoZenge envisions that a potential collaboration with a Chinese party may take one of several forms, including but not limited to;- Divestment of rights for the Chinese market, an outright sale of rights to develop and commercialize BupiZenge™ in China.
- Joint Venture investment with a strategic investor or local pharmaceutical company to conduct a Phase 3 clinical trial designed for approval in China.
- A traditional licensing agreement, e.g., a partnership with a Chinese pharmaceutical company licensing BupiZenge™ for market exclusivity, with upfront payments and milestone considerations.
"OncoZenge is excited to announce this significant step forward in our ambition to bring BupiZenge to patients in China who suffer from cancer treatment-related pain. Securing extended patent protection strengthens our position, and our partnership with Eurosin Capital brings valuable expertise to navigate the Chinese market. This collaboration will expedite BupiZenge's path to market in China, offering improved pain management options to a vast patient population while generating potential near-term commercial benefits for OncoZenge." - Stian Kildal, CEO of OncoZenge
BupiZenge™ - Potential to be the leading treatment for oral pain.
For additional information, please contact:
Stian Kildal, CEO, mobile: +46 76 115 3797, e-mail: stian.kildal@oncozenge.se
Daniel Ehrenstråhle, Chairman, mobile: +46 72 724 2069, e-mail: daniel.ehrenstrahle@oncozenge.se
Certified Adviser
OncoZenge's Certified Adviser is Carnegie Investment Bank AB (publ).
OncoZenge AB
Gustavslundsvägen 34, 167 51 Stockholm, Sweden
About OncoZenge
OncoZenge develops a novel, effective, safe and well-tolerated treatment for oral pain in conditions where currently available treatment options either do not achieve sufficient pain relief or are associated with significant side effects. BupiZenge™ is a new oral lozenge formulation of bupivacaine, an anaesthetic with decades of clinical experience. OncoZenge's lead indication is oral pain due to an inflammatory condition called oral mucositis that affects millions of patients receiving cancer treatment. Oral mucositis causes profound physical and psychological suffering, and is a large unmet medical need for an effective, opioid-sparing treatment option. BupiZenge™ has shown significantly better pain relief compared to standard of care in this indication in a Phase 2 trial.
OncoZenge is headquartered in Stockholm, Sweden, and its share is publicly traded on Nasdaq First North Growth Market under the ticker ONCOZ.
About Eurosin Capital
Eurosin Capital is a corporate finance advisory firm focusing on cross-border transactions in the Nordic region and Asia, with a special focus on China. We work with both cooperation/joint ventures and change of ownership transactions such as mergers & acquisitions and private placements.
Eurosin Capital's company symbol is composed of a large triangle made of two triangles, representing Eastern and Western values, overlapping each other. The circle in the middle, is a rising sun. This is a metaphor for value generated by combining the strength of both Western and Eastern knowledge and ingenuities to merge two dimensions to a unified concept that will lead to successful business outcomes for our Clients and Partners.
Learn more at: http://www.eurosin.se
Contacts:
Harry Li Bai, CEO, mobile +46 73 201 9544, e-mail: harry.li@eurosin.se
Qun Gu, Managing Director, mobile Sweden: +46 76 811 8508, China: +1 39 1633 1785, e-mail: qun.gu@eurosin.se