Huadong Medicine and Aussino Biotech Announce Exclusive Strategic Collaboration on Improved Oral Formulation of Edaravone in China and Beyond

On July 12, 2024, Huadong Medicine Co., Ltd., through its wholly-owned subsidiary Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. (hereinafter referred to as "Huadong Medicine"), and Suzhou Aussino Biotech Co., Ltd. (hereinafter referred to as "Aussino Biotech") announced that the two parties have reached a consensus on an exclusive strategic collaboration agreement for the development, registration, manufacturing, and commercialization of an improved new drug - TTYP01 tablets (i.e., edaravone tablets), an oral formulation of edaravone, in mainland China, Hong Kong, Macau, and Taiwan.

According to the agreement, Aussino Biotech will receive a RMB 100 million upfront payment and is eligible for up to RMB 1.185 billion in development, registration, and sales milestones, as well as tiered royalties on net sales that could reach double digits.

Huadong Medicine will be fully responsible for the development, registration, manufacturing, and commercialization of TTYP01 tablets in the authorized regions. Meanwhile, Aussino Biotech will continue to be responsible for the development and commercialization of the drug in other regions. The agreement takes effect from the date of signing.

TTYP01 tablets are an improved new drug independently developed by Aussino Biotech, with edaravone as the active ingredient in an oral tablet formulation. The drug has completed Phase III clinical trials for acute ischemic stroke in China and plans to submit the NDA application in the fourth quarter of 2024. As the world's only oral edaravone tablet, TTYP01 tablets, with their superior patient compliance and convenience, are expected to cover the acute and rehabilitation phases of stroke patients, providing more therapeutic benefits to a large number of stroke patients.