STOCKHOLM and HANGZHOU, China, Aug 18, 2017 /PRNewswire/ -- Medivir AB (Nasdaq Stockholm: MVIR) and Ascletis today announce that Ascletis has licensed the exclusive rights to develop, manufacture and commercialize Medivir's nucleotide polymerase inhibitor for hepatitis C, MIV-802 (Ascletis code: ASC21), in Greater China.
Under the terms of the agreement, Medivir received an upfront payment, and is entitled to receive milestones based on successful development through commercial launch and tiered royalties on net sales of MIV-802 containing products. Ascletis will fund clinical development, manufacturing and commercialization of MIV-802 in Greater China.
"We are pleased to have Ascletis as a partner with their track record in advancing development of pharmaceuticals in Greater China and their portfolio of antivirals with which to create a combination drug against hepatitis C" said Christine Lind, CEO of Medivir.
"Ascletis has filed an NDA in China for its first HCV NS3/4A medicine, danoprevir, at the end of 2016 and has an HCV NS5A inhibitor in the late stage clinical development. By acquiring MIV-802, a nucleotide NS5B inhibitor, Asceltis is committed to treating, eventually eliminating, hepatitis C in greater China with its multiple leading antiviral combinations including MIV-802," said Dr. Jinzi J. Wu, CEO of Ascletis.
For further information, please contact:
CFO Medivir AB
Associate Director, Corporate Affairs
MIV-802 is a potent, pangenotypic nucleotide inhibitor of the HCV NS5B polymerase. Hepatitis C treatments comprise combinations of pharmaceuticals with different antiviral mechanisms. Preclinical data indicate that MIV-802 can be used effectively in combination with other classes of antiviral agents for the treatment of HCV, including protease inhibitors, non-nucleoside NS5B inhibitors, and NS5A inhibitors.
Medivir is a research-based pharmaceutical company with a focus on oncology. We have a leading competence within protease inhibitor design and nucleotide/nucleoside science and we are dedicated to develop innovative pharmaceuticals that meet great unmet medical needs. Medivir is listed on the Nasdaq Stockholm Mid Cap List.
Ascletis is a leading biotechnology company dedicated to discovering, developing and commercializing new treatments for liver diseases. Ascletis has assembled an entrepreneurial management and senior scientific team with a track record of successful pharmaceutical discovery and development at major global pharmaceutical companies. To date the company has added four late-stage candidates to its product portfolio: Danoprevir (ASC08), an NDA-filed HCV protease inhibitor, licensed from Roche; Ravidasvir (ASC16), phase II completed HCV NS5A inhibitor, licensed from Presidio Pharmaceuticals; ASC06, a clinical stage, first-in-class, RNAi therapeutic for the treatment of liver cancers, licensed from Alnylam Pharmaceuticals; and ASC09, a phase IIa completed HIV protease inhibitor, licensed from Janssen, a Johnson & Johnson company. For more information, please visit www.ascletis.com or www.ascletis.com.cn
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