Pioneer Pharmaceuticals and Fosun Pharmaceuticals reached a cooperation agreement on the commercialization of Prokalamide for the treatment of COVID-19 in India and Africa

On July 15, 2021, Kaifeng Pharmaceutical Co.
, Ltd.
announced that it has reached a cooperation agreement with Shanghai Fosun Pharmaceutical Industry Development Co.

According to the terms of the agreement, Fosun Pharmaceutical Industry will obtain the exclusive registration and commercial sales rights of Prokalamide in the cooperation area, and will pay the pioneering pharmaceutical industry no more than RMB 560 million, including the down payment and development milestones of approximately RMB 110 million.
Yuan and commercialization milestones do not exceed RMB 450 million
.
In addition, Kaixing Pharmaceutical will charge no less than 50% of the total profit as a sales commission based on the future net sales of Prokalamide in the cooperation area

Prokramide is a new generation of androgen receptor antagonist
.
Since the COVID-19 pandemic at the beginning of 2020, Pioneer Pharmaceuticals has rapidly started research on the use of procrulamide in the treatment of COVID-19

Dr.
Tong Youzhi, founder, chairman and chief executive officer of Pioneer Pharmaceuticals, said: "The global COVID-19 situation is severe.
We hope to speed up the EUA licensing of procluamide in developing countries with severe epidemics and solve the problem of treatment of COVID-19 patients
.
Star Pharmaceutical Group has strong registration and commercialization capabilities in India and Africa.