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TaiGen’s Taigexyn (Nemonoxacin) Will Be Launched in Mainland China in October

TAIPEI, Taiwan, September 21, 2016 – TaiGen Biotechnology Company, Limited ("TaiGen") announced that Taigexyn® (nemonoxacin) will be launched in mainland China by TaiGen’s partner, Zhejiang Medicine Co. in coming October.  According to Zhejiang Medicine’s forecast, the annual peak sales of Taigexyn® will reach RMB 1 billion.


In 2012, TaiGen signed an exclusive license agreement with Zhejiang Medicine to manufacture and commercialize Taigexyn® in mainland China. TaiGen received an upfront payment of US$ 8 million from Zhejiang Medicine upon execution of the agreement and an additional US$ 1 million of regulatory milestones in June 2016. TaiGen will receive 7%-11% royalty based on the net annual sales of Taigexyn®.

 
Taigexyn® is a novel non-fluorinated quinolone antibiotic for the treatment of bacterial infections. Taigexyn’s excellent activity against drug-resistant bacteria and low propensity to resistance development is a valuable tool in fighting the problem of increasing antimicrobial resistance. Noteworthy, rate of antibiotic resistant infections in China is among the highest in the world. According to IMS, the sales of quinolone antibiotics in mainland China reached RMB 6.4 billion (~US$ 1 billion) in 2015.


Dr. Ming-Chu Hsu, Chairman and CEO of TaiGen said, "We are proud that Taigexyn® is the first Class 1.1 new drug developed by a Taiwanese company to receive market approval in mainland China. Taigexyn® is also the first new drug approval since China FDA announced the requirement of self-inspection of clinical trial data in July 2015. We are excited to partner with Zhejiang Medicine to launch Taigexyn® to treat the unmet medical needs in China.”

 
In addition to the Zhejiang Medicine partnership in China, Taigexyn® was out -licensed to R-Pharm for the Russian Federation, Turkey and the Commonwealth of Independent States; to Productos Científicos for Latin America; and partnered with Holding Distribution for distribution in Taiwan.


 
TaiGen Contact:
Peter W. Tsao, PhD, Vice President Corporate Development
Tel: +886-2-8177-7020

 

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