Significant breakthrough: The FEMTECH company OCON Healthcare of the Merchavia Investments Group has signed an exclusive agreement with BioGenuine to market its products in China and Southeast Asian countries

In addition, the companies will develop and commercialize new products in the field of women's health

RAMAT GAN, Israel, June 27, 2022 /PRNewswire/ -- OCON Healthcare, the Israeli FEMTECH company, which develops, manufactures and markets a unique and innovative platform for the delivery of drugs to the uterus, from the group of companies of Merchavia Holdings and Investments (TASE: MRHL), reports that it has signed a binding agreement with BioGenuine, a Chinese pharma company in the field of Women's Health, which will begin marketing its products exclusively in China and Southeast Asia. It is also stipulated that the companies will work for the joint development and commercialization of new products in the field of women's health based on OCON's spherical platform combined with innovative drugs.

According to the agreement between the companies, OCON will receive an immediate payment of $ 1.3 million in addition to the following milestones: 1. The Chinese company will pay $ 1 million after receiving regulatory approval in China for each of the products (excluding Hong Kong, Macao and Taiwan). 2. The Chinese company will pay $ 1 million for the launch of each new product based on OCON's technology and addressing additional medical indications (excluding Hong Kong, Macao and Taiwan).

The companies have agreed that OCON will receive royalties amounting to 7% of net product sales in China, Hong Kong, Macau, Vietnam, Cambodia, Myanmar, Laos, Thailand, Malaysia, Singapore, the Philippines and Indonesia. After a period of 12 years or the expiration of the patents in one of the territories, the royalty rate that OCON will receive will drop to 3.5%.

 OCON's first platform product, the Ballerine® (IUB™ Ballerine®) is the first and only spherical intrauterine device of its kind in the world to prevent pregnancy, that has already proven safety and efficacy in the European, Israeli and South African markets and will soon enter the South American and Canadian markets. The IUB is the best delivery platform for uterine medications to treat a variety of medical conditions in women, such as increased bleeding, endometriosis, fibroids, menopause and more.

OCON's second product, currently in a Phase 2b clinical trial at 7 medical centers in Israel and Georgia, is SEAD IUB – intended for non-invasive treatment of Heavy Menstrual Bleeding HMB, from which 1 in 4 women of childbearing age suffers. The treatment is performed in the doctor's clinic within about half an hour without the need for surgery or anesthesia in the hospital and is designed to lead to a significant and immediate reduction in bleeding. OCON's treatment is a paradigm shift with regard to the traditional HMB treatments currently available in hospitals, which include invasive ablation procedures and even hysterectomy. OCON Healthcare estimates that the global HMB surgery market is expected to reach $ 1.3 billion by 2024.

OCON has recently begun developing a new product, IUB PRIMA, which will enable sustained release of a variety of drugs in the uterus over a fixed and defined period of time.

About Merchavia Holdings and Investments:

Merchavia is a public company traded in the Tel Aviv Stock Exchange that has a wide range of investments in Med-Tech companies with an emphasis on advanced remote medicine solutions.

Contact:
Eli Arad
[email protected]

SOURCE Merchavia Holdings and Investments