Synergy Pharmaceuticals Announces License Agreement with Luoxin Pharmaceutical Group. Yafo Capital Acted as The Exclusive Financial Advisor on This Transaction
August 8, 2018 - Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) announced yesterday that the company had entered into a license agreement with Luoxin Pharmaceutical Group Co., Ltd., Shandong (Luoxin). Yafo Capital acted as the exclusive financial advisor on this transaction.
Under the terms of the agreement, Luoxin will have exclusive rights to develop and commercialize Synergy’s lead product TRULANCE® (plecanatide) for the treatment of adults with chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C) in mainland China, Hong Kong and Macau. Synergy will receive an upfront payment of $12 million. Synergy is also eligible, in the event that certain regulatory and commercial milestones are met, to receive additional payments of up to $56 million in aggregate. In addition, Synergy is eligible to receive tiered royalty payments on aggregate net sales. Luoxin will lead clinical development in China and be responsible for all activities and expenses relating to clinical development, regulatory approval, and commercialization in China.
"Luoxin is a leading pharmaceutical company in China with strong capabilities for successfully delivering TRULANCE to patients in its market," said Troy Hamilton, Chief Executive Officer of Synergy Pharmaceuticals Inc. " We look forward to supporting the Luoxin team in their efforts to bring TRULANCE to patients suffering from CIC and IBS-C in China.”
"We are pleased to partner with Synergy to bring this exciting new treatment option to benefit millions of patients suffering from these chronic gastrointestinal conditions in China." said Ryan Liu, Executive Chairman of Luoxin. “Over the years, Luoxin has established a strong product line of proton pump inhibitors to treat gastrointestinal diseases, and TRULANCE will make an invaluable addition to our arsenal of solutions to fight these conditions.”
"Yafo Capital showed deep industry understanding and very professional in this transaction. While being able to consider mutual interests for both parties, the team could provide and implement comprehensive solutions advising in the deal." Synergy's Chief Strategic Officer, Marino Garcia said.
"Yafo Capital has emphasized on oversea innovative drugs in gastroenterology, oncology, and cardiovascular sectors. Over the past several years, we have contacted many related companies in Europe and the U.S., helping these companies explore the Chinese market. Meanwhile, we also help Chinese companies search for innovative assets in foreign markets", Kun Tao (Managing Partner) and Fan Zheng (Managing Director) of Yafo Capital both involved in sourcing and negotiation of the deal, “We are very pleased to introduce Synergy’s Trulance to China. Under the strong research capability and nationwide distribution channels of Luoxin Pharma, we believe the product will be on the market soon, providing a better solution for constipation patients.”
About Synergy Pharmaceuticals Inc.
Synergy is a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies. The company has pioneered discovery, research and development efforts around analogs of uroguanylin, a naturally occurring human GI peptide, for the treatment of GI diseases and disorders. Synergy’s proprietary GI platform includes one commercial product TRULANCE® (plecanatide) and a second product candidate – dolcanatide.
Luoxin Pharmaceutical is a pharmaceutical company in China that engages in pharmaceutical research and development, manufacture, sales, and healthcare services with 6,500+ employees and sales reaching 1.4 billion US dollars. The company provides pharmaceutical products in gastrointestinal, respiratory, cardiovascular, infectious diseases and cancer, among other therapeutic areas.
About Yafo Capital
Shanghai Yafo Capital, as a boutique fund management and investment banking firm, specializes in cross-border private equity and M&A transactions. We are headquartered in Shanghai, with offices in Israel and the US. Yafo Life Science is the healthcare arm under Yafo Capital, with a focus on global pharmaceutical and medical device companies that have a ‘China Angle’. We are dedicated to bridge the global medical technologies and China market and capital.
2018年8月7日，美国医药上市公司Synergy Pharmaceuticals Inc. (股票代码SGYP，以下简称“Synergy”)宣布与山东罗欣药业集团股份有限公司（以下简称“罗欣药业”）签订《License Agreement》（以下简称“许可协议”）。雅法资本在本次交易中担任独家财务顾问。
"罗欣药业是中国领先的制药公司，具备在中国成功推广TRULANCE的能力"，Synergy Pharmaceuticals首席执行官Troy Hamilton表示，“我们将会尽全力支持罗欣团队为中国CIC和IBS-C患者提供TRULANCE解决方案。“
关于Synergy Pharmaceuticals Inc.
Synergy Pharmaceuticals Inc是一家生物制药公司，是纳斯达克上市公司。公司专注于创新消化道（GI）疗法的开发和商业化。公司围绕尿鸟苷蛋白（一种天然人体胃肠肽）的类似物，开发用于治疗胃肠疾病的创新药。 Synergy的专有消化道治疗平台包括一款已经商业化的产品TRULANCE®（普卡那肽）和另外一款候选产品 —dolcanatide。
上海雅法资本作为新型投资和金融服务机构，致力于海外高科技项目的投资、融资、海外并购，总部位于上海，在北京、佛山、以色列及美国均设有分支机构。雅法生命科学（Yafo Life Science）是雅法资本旗下的医疗大健康部门，专注于帮助具有“中国角度”的海外医药、医疗器械企业在中国的融资、授权和战略合作；为中国医疗企业提供海外市场研究服务，寻找海外投资、并购标的，及药品和器械的商业合作。雅法生命科学致力于成为全球医疗技术对接中国市场与资本的桥梁。目前覆盖以色列、美国、瑞士、日本等八个医疗创新能力最强的国家。