Bellerophon to receive a license payment of $6 million, as well as royalties on net sales in Greater China
WARREN, N.J., Jan. 05, 2023 (GLOBE NEWSWIRE) — Bellerophon Therapeutics, Inc. (Nasdaq: BLPH) (“Bellerophon” or the “Company”), a clinical-stage biotherapeutics company focused on developing treatments for cardiopulmonary diseases, today announced that it has entered into a license agreement for the development and commercialization of INOpulse® with Baylor BioSciences, a life sciences company dedicated to the development and commercialization of innovative medical products for Greater China.
Under the terms of the license agreement, Bellerophon will receive a license payment of $6 million, payable within 90 days subject to certain closing conditions set forth in the agreement. Additionally, Bellerophon is entitled to royalties of 5% on net sales resulting from all of the licensed INOpulse indications within Greater China. Baylor BioSciences will receive exclusive rights to develop and commercialize INOpulse within Greater China for diseases associated with pulmonary hypertension, including the lead indication of fibrotic interstitial lung disease (fILD), as well as PH-Sarcoidosis and PH-COPD.
“We are delighted to partner with Baylor BioSciences to potentially bring INOpulse to patients in Greater China,” said Peter Fernandes, Bellerophon’s Chief Executive Officer. “If approved, INOpulse has the potential to become the first therapy to treat a broad fILD population that includes patients at low-, intermediate- and high-risk of pulmonary hypertension. We believe that this agreement further validates the potential of INOpulse to address the significant unmet need for therapies that improve activities of daily living and quality of life in patients with fILD, as well as other underserved diseases, including PH-Sarcoidosis and PH-COPD. Importantly, this agreement enables us to gain access to one of the largest markets globally, while strengthening our balance sheet.”
Ted Wang is a member of Bellerophon’s Board of Directors, a co-founder of Baylor BioSciences and is a significant shareholder of Bellerophon and Baylor Biosciences. The transaction with Baylor BioSciences was approved by Bellerophon’s audit committee in accordance with Bellerophon’s related party transaction policy.
Bellerophon Therapeutics is a clinical-stage biotherapeutics company focused on developing innovative therapies that address significant unmet medical needs in the treatment of cardiopulmonary diseases. The Company is currently developing multiple product candidates under its INOpulse® program, a proprietary pulsatile nitric oxide delivery system. For more information, please visit www.bellerophon.com.
About Baylor BioSciences
Baylor BioSciences’ mission is to bring innovative therapies that meet the significant unmet needs of patients with pulmonary diseases associated with pulmonary hypertension, in Greater China. The company also aims to develop remote, Artificial Intelligence and Internet of Things based diagnostic and chronic disease management tools and methods for large, underserved patient populations in Greater China.
Any statements in this press release about Bellerophon’s future expectations, plans, and prospects, including statements about the clinical development of its product candidates, regulatory actions with respect to the Company’s clinical trials and expectations regarding the sufficiency of the Company’s cash balance to fund clinical trials, operating expenses and capital expenditures, and other statements containing the words “anticipate,” “believe,” “continue,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks and uncertainties relating to INOpulse®, the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials and the results of such trials, whether preliminary or interim results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials will be indicative of the results of later clinical trials, expectations for regulatory approvals, the FDA’s substantial discretion in the approval process, availability of funding sufficient for our foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements included in this press release represent Bellerophon’s views only as of the date of this release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release.