Rockwell partners Triferic in China
Rockwell Medical Inc. (NASDAQ:RMTI) granted the Wanbang Biopharmaceutical Co. Ltd. subsidiary of Shanghai Fosun Pharmaceutical Group Co. Ltd. (Shanghai:600196; HKSE:2196) exclusive Chinese rights to commercialize Rockwell's Triferic ferric pyrophosphate citrate and calcitriol. Rockwell will receive an undisclosed upfront payment and is eligible for milestones and a portion of product sales in China. The upfront and milestone payments total $39 million.
Rockwell markets Triferic for the replacement of iron to maintain hemoglobin in adults with hemodialysis-dependent chronic kidney disease (CKD). Wanbang also received the exclusive right to develop and commercialize Triferic for new therapeutic indications in China, in which case Wanbang would be responsible for development and regulatory costs. ...