Israel-based OCON Healthcare, a specialist in uterine drug delivery, has entered into a license agreement with China’s BioGenuine. The deal grants BioGenuine exclusive marketing rights to OCON’s products in China and establishes a partnership for co-development and commercialization of new women’s health products.
Deal Terms
BioGenuine will pay an upfront fee of USD 1.3 million and commit to milestones of USD 1 million per product approval in China (excluding Hong Kong, Macao, and Taiwan) and USD 1 million for each new product launch per indication in China. OCON is also set to receive 7% royalties on net product sales in China, Hong Kong, Macao, Vietnam, Cambodia, Myanmar, Laos, Thailand, Malaysia, Singapore, the Philippines, and Indonesia, decreasing to 3.5% after 12 years.
Product Focus
The agreement initially focuses on OCON’s IUB Ballerine platform, the world’s only spherical intrauterine device for pregnancy prevention. Approved in the EU, Israel, and South Africa, the IUB also serves as a delivery platform for uterine medications treating conditions like increased bleeding, endometriosis, fibroids, and menopause. OCON’s second product, SEAD IUB, is in Phase IIb clinical trials in Israel and Georgia for non-invasive treatment of Heavy Menstrual Bleeding (HMB).-Fineline Info & Tech
