By Fineline Cube 
China-based Beijing Sun-Novo Pharmaceutical Research Co., Ltd (SHA: 688621) this week entered into a technology development agreement with Shanghai LeKuang Huilin Pharmaceutical Technology Co., Ltd to jointly develop STC007 injection for analgesic indication.
STC007: A Promising Analgesic
STC007, Sun-Novo Pharma’s proprietary drug candidate for treating moderate-to-severe post-abdominal surgery pain, is currently in Phase III development, having completed Phase II clinical trials. This collaboration is expected to enhance the drug’s development and market potential.
Financial Agreement
Under the agreement, LeKuang Huilin will acquire 20% rights to the project for RMB 200 million (USD 28 million). This includes RMB 100 million (USD 14 million) as an upfront payment and RMB 100 million (USD 14 million) in milestone payments.
Collaboration Details
The collaboration covers mainland China, excluding Hong Kong, Macau, and Taiwan. Sun-Novo Pharma will lead R&D and regulatory filings, while both parties will jointly participate in product sales and market expansion. Intellectual property rights will be allocated according to investment proportions.-Fineline Info & Tech