Y.S.P. Industries has entered into an exclusive licensing agreement to develop and market TaiGen Biopharmaceuticals Holdings’ (TaiGen) new drug in Malaysia and Singapore.
The contract was signed through TaiGen’s subsidiary company TaiGen Biotechnology.
Considering the competitiveness of the pharmaceutical market as well as concerns about proprietary information, the companies did not disclose the name of the new drug.
The duration of the contract starts from the signing date and is anticipated to last for 20 years from the initial product sale.
As part of the deal, Y.S.P. Industries will be responsible for submitting the new drug application and market sales within the authorised region.
TaiGen chairman and CEO Kuo-Lung Huang said: “The YSP Group has deep roots in Taiwan, and its subsidiary, Y.S.P. Industries, boasts over 30 years of outstanding experience in pharmaceuticals, drug development, and sales in Malaysia and Singapore.
“In collaboration with Y.S.P. Industries, TaiGen is now expanding into the Southeast Asia market, offering a new selection of medication to meet the local medical needs.
“This partnership marks another significant milestone for TaiGen in terms of licensing its product overseas.”
TaiGen is engaged in the development of small molecule drugs mainly focusing on anti-infective drug research, and conducts multi-country, multi-centre clinical trials.
Taigexyn (Nemonoxacin), the company’s flagship product, non-fluorinated quinolone antibiotic, has received marketing approvals in mainland China, Taiwan and Russia.