Luoxin gains Chinese rights to Trulance

Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) granted Shandong Luoxin Pharmaceutical Group Stock Co. Ltd. (Linyi, China) exclusive rights to develop and commercialize gastrointestinal drug Trulance plecanatide in China, including Hong Kong and Macau. The license covers the treatment of adults with irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC).

Synergy will receive an upfront payment of $12 million and is eligible for $56 million in regulatory and commercial milestones, plus tiered royalties. Luoxin will be responsible for clinical development, regulatory approval and commercialization in China...