Mycovia Pharmaceuticals and Jiangsu Hengrui Medicine announced an exclusive agreement to develop and commercialize Mycovia’s investigational drug, VT-1161 (otesaconazole), in China, including mainland China, Hong Kong, Macau, and Taiwan, for the treatment or prevention of a range of fungal conditions, including recurrent vulvovaginal candidiasis (RVVC), onychomycosis and invasive fungal infections.
RVVC is also known as chronic yeast infection and is often accompanied by severe physical discomfort and emotional burden. Mycovia is currently conducting global Phase 3 trials of VT-1161 in women with RVVC to support marketing applications in the US, the European Union and Japan. NovaQuest Capital Management formed Mycovia in 2018 to advance VT-1161 in global markets.
“We are delighted to partner with Hengrui, a leading pharmaceutical company well respected around the world, to advance VT-1161 as a treatment for RVVC and other fungal conditions in China,” said Patrick Jordan, Partner at NovaQuest Capital Management. “RVVC is a global women’s health concern, affecting 29 million women in China alone. In addition to the treatment of RVVC, early research suggests that VT-1161 has strong potential in the fight against other fungal infections, including azole-resistant fungal infections which pose an increasing threat to public health in China and across the globe. With Hengrui’s expertise and commitment bolstering Mycovia’s passion and focus, VT-1161 is well positioned for development and commercialization in one of the world’s largest and fastest-growing markets.”
“VT-1161 is an innovative antifungal candidate with a unique pharmacokinetic, efficacy and safety profile. This partnership with Mycovia provides us an opportunity to better serve the antifungal medical needs for patients in China across a broad spectrum of infections, including superficial and invasive infections,” said Piaoyang Sun, Chairman of the Board of Hengrui Medicine.
With this partnership, Mycovia is eligible to receive development funding, regulatory milestones, sales milestones and royalties on net sales of VT-1161 in China.
Source: Company Press Release