Armetheon, Inc., a specialty pharmaceutical company developing novel small molecule drugs for cardiovascular diseases, today announced that Armetheon and China Cardiovascular Focus Limited, a subsidiary of Lee's Pharmaceutical Holdings Limited (Lee's Pharma), a public biopharmaceutical company listed on the main board of Hong Kong Stock Exchange (stock code: 950) with an operating history of over 20 years in the Chinese pharmaceutical industry, have entered into an agreement to initiate advanced-stage clinical testing, manufacturing and commercialization of Armetheon's investigational oral anticoagulant, tecarfarin, in the greater China market including Mainland China, Hong Kong, Macau, and Taiwanas well as Thailand.
"We are pleased to enter this agreement with Lee's Pharma, a leading Chinese pharmaceutical company, to develop and approve tecarfarin in the greater China market and Thailand," stated Sanjay Kakkar, MD, Armetheon's Chief Executive Officer. "This relationship is an important part of our global strategy seeking to bring tecarfarin to market in order to meet the needs of patients who require an alternative to warfarin. Furthermore, Lee's Pharma has a proven track record in the development of new compounds and in navigating the complex regulatory landscape in China. We believe this collaboration will become an important contribution to achieving the goal of seeking to establish tecarfarin as an oral anticoagulant available worldwide."
"With a substantial patient population at elevated risk of thrombosis, China has the potential to become an important market for alternative anticoagulant agents," said Dr. Xiaoyi (Benjamin) Li, Chief Executive Officer and Executive Director of Lee's Pharma. "We believe that tecarfarin can address the compelling needs in those patients requiring chronic anticoagulant therapy, and we look forward to collaborating closely with Armetheon to initiate the development of tecarfarin in greater China and Thailand."
Locust Walk served as an advisor to Armetheon in concluding this transaction.