Ashlins Pharmaceuticals announced that its wholly owned subsidiary, Ashlins Ocular Pharmaceuticals, Inc., has entered into an exclusive license and supply agreement with Lee’s Pharmaceutical Holdings Limited.
Under the agreement, Ashlins has obtained exclusive rights to develop and commercialize certain drug products incorporating Lee’s Pharm’s interferon alpha-2b active pharmaceutical ingredient (API) in all territories outside Mainland China, Hong Kong, Macau and Taiwan. Lee’s Pharm will supply the API and is eligible to receive up to $31 million in upfront, development and annual commercial milestone payments, subject to specified conditions.
Interferon alpha-2b is a recombinant human type I interferon used as the active substance in medicines with antiviral and immunomodulatory activity.
“We believe this program has the potential to develop into a valuable therapeutic option for patients with limited treatment alternatives,” said Jennifer Lin, Chief Executive Officer of Ashlins Pharmaceuticals. “This agreement advances Ashlins’ initiative of acquiring clinically validated assets that can benefit from focused U.S. development and commercialization. By combining Ashlins’ development capabilities with Lee’s Pharm’s extensive pharmaceutical and manufacturing experience, we believe we are well-positioned to advance the program efficiently.”
“We are pleased to collaborate with Ashlins and support the development of our interferon alpha-2b API outside Mainland China, Hong Kong, Macau ,and Taiwan,” said Ms. Wanee Lee, Managing Director of Lee's Pharmaceutical Holdings Limited. “Ashlins offers a focused U.S. development and commercialization strategy for the program, enabling us to direct more of our internal resources toward core portfolio assets, while allowing Lee's Pharm to participate in the program's long-term success.”
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