|In 2020, specialty pharmaceutical company iX Biopharma Ltd (SGX:42C) started making inroads into China through the sale of nutraceuticals on e-commerce sales channels JD.com and Alibaba’s Tmall Global.
iX Biopharma said it and CRPCG will engage in all-round cooperation in respect of iX Biopharma’s pipeline of innovative sublingual pharmaceutical and nutraceutical products in China.
The parties will determine the appropriate products and model of cooperation, which may be via licensing or joint venture.
CRPCG will undertake the full scope of operation in China including registration, manufacturing, distribution and promotion.
iX Biopharma has developed a patented drug delivery platform technology, WaferiX.
WaferiX delivers drugs sublingually via the mucosa for better absorption, faster onset of action and predictable effect.
WaferiX is particularly useful for drug repurposing which is a growing trend with a global market worth US$34 billion.
Drug repurposing is where existing approved drugs are developed into new drugs targeting different indications or a different route of administration, at a lower development cost and risk.
CRPCG is part of the China Resources Pharmaceutical Group, which is the second largest pharmaceutical manufacturer in China.
Through this strategic cooperation, CRPCG will have access to iX Biopharma’s rich pipeline of unique sublingual products, formulated using WaferiX, to meet under-served medical needs across many health conditions.
By leveraging on each other’s strengths and capabilities, both parties will cooperate to seize the immense opportunities in the China market.
CRPCG commented that, “The WaferiX sublingual delivery technology is unique in the pharmaceutical industry. Using this versatile platform, iX Biopharma has developed many exciting products which have excellent commercial potential in the China market. CRPCG is willing to support the market entry and launch of these products with its extensive infrastructure and comprehensive capabilities covering product registration to commercialisation.”
“The Chinese pharmaceutical and healthcare industry is undergoing tremendous growth. This has spurred intense competition amongst Chinese companies to invest in, and bring to market, differentiated products with superior clinical benefit. We are delighted that China Resources Pharmaceutical Group recognises the enormous potential that our drugs and nutraceuticals have in the China market, and we look forward to tapping on their deep experience and market-leading distribution network to access the China market.”Ms Eva Tan (photo), Chief Commercial Officer of iX Biopharma, said:
The Strategic Cooperation Agreement serves as a guidance for the future long-term cooperation between the parties and as a basis for binding contracts to be entered into by the parties.