Mycovia Pharmaceuticals and Jiangsu Hengrui Medicine Announce Partnership to Develop and Commercialize VT-1161 for Recurrent Vulvovaginal Candidiasis and Other Fungal Conditions

  • VT-1161 is a potent antifungal therapy with the potential to treat a
    range of fungal infections, including those resistant to currently
    approved treatment options
  • The agreement grants to Hengrui the exclusive rights to develop and
    commercialize VT-1161 in China and grants to Mycovia development
    payments, milestones, and royalties contingent upon the achievement of
    partnership objectives

DURHAM, N.C. & SHANGHAI–(BUSINESS WIRE)–Mycovia
Pharmaceuticals, Inc.
and Jiangsu
Hengrui Medicine Co., Ltd.
(SSE: 600276) today announced an
exclusive agreement to develop and commercialize Mycovia’s
investigational drug, VT-1161 (otesaconazole), in China, including
mainland China, Hong Kong, Macau, and Taiwan, for the treatment or
prevention of a range of fungal conditions, including recurrent
vulvovaginal candidiasis (RVVC), onychomycosis and invasive fungal
infections.

RVVC is also known as chronic yeast infection and is often accompanied
by severe physical discomfort and emotional burden. Mycovia is currently
conducting global Phase 3 trials of VT-1161 in women with RVVC to
support marketing applications in the US, the European Union and Japan.
NovaQuest Capital Management formed Mycovia in 2018 to advance VT-1161
in global markets.

“We are delighted to partner with Hengrui, a leading pharmaceutical
company well respected around the world, to advance VT-1161 as a
treatment for RVVC and other fungal conditions in China,” said Patrick
Jordan, Partner at NovaQuest Capital Management. “RVVC is a global
women’s health concern, affecting 29 million women in China alone. In
addition to the treatment of RVVC, early research suggests that VT-1161
has strong potential in the fight against other fungal infections,
including azole-resistant fungal infections which pose an increasing
threat to public health in China and across the globe. With Hengrui’s
expertise and commitment bolstering Mycovia’s passion and focus, VT-1161
is well positioned for development and commercialization in one of the
world’s largest and fastest-growing markets.”

“VT-1161 is an innovative antifungal candidate with a unique
pharmacokinetic, efficacy and safety profile. This partnership with
Mycovia provides us an opportunity to better serve the antifungal
medical needs for patients in China across a broad spectrum of
infections, including superficial and invasive infections,” said
Piaoyang Sun, Chairman of the Board of Hengrui Medicine.

With this partnership, Mycovia is eligible to receive development
funding, regulatory milestones, sales milestones and royalties on net
sales of VT-1161 in China.

About Mycovia Pharmaceuticals

Mycovia Pharmaceuticals has a passion for developing breakthrough
therapies in areas of unmet medical need. Our lead product candidate,
VT-1161 (oteseconazole), is a novel, oral therapy designed to have
greater selectivity, fewer side effects and improved potency than
current treatment options. It received FDA Qualified Infectious Disease
Product and Fast-Track designations to support its potential as the
first FDA-approved treatment for RVVC. Studies to date suggest VT-1161
may also be an effective treatment for life-threatening systemic fungal
infections. For more information, please visit www.mycovia.com

About Jiangsu Hengrui Medicine Co., Ltd.

Jiangsu Hengrui Medicine Co., Ltd. established in 1970, is a leading
biopharmaceutical company based in China with annual net sales of over
$2.5 billion in 2018. Hengrui is devoted to empowering healthier lives
through research, with capabilities across oncology, immunology,
anesthesiology, cardiovascular diseases, metabolic diseases, and pain
management. Hengrui has more than 130 clinical trials ongoing worldwide
and an in-house sales force covering more than 15,000 hospitals in China.

About NovaQuest Capital Management

NovaQuest Capital Management is a leading investor in life sciences and
healthcare through its Product Finance and Private Equity strategies.
NovaQuest was formed in 2000 with the vision of building an investment
platform to provide strategic capital to life sciences and healthcare
companies. Today, NovaQuest Capital Management manages over $2 billion
through its Product Finance and Private Equity strategies. The
investment team consists of highly seasoned operational and investment
professionals with significant investment experience and deep life
science and healthcare expertise. Furthermore, NovaQuest benefits from
an extensive network of industry experts and relationships that assist
in identifying, analyzing and growing NovaQuest portfolio companies and
investments. For more information, please visit www.novaquest.com.

Contacts

Mycovia Pharmaceuticals
Stephen Brand, Ph.D., 919-467-8539
[email protected]

MacDougall
Lauren
Arnold, 781-235-3060
[email protected]

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