Huadong Medicine and Aussino Biotech Announce Strategic Partnership for Enhanced Edaravone Oral Formulation

On July 12, 2024, Huadong Medicine Co., Ltd., through its wholly-owned subsidiary Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. (referred to as "Huadong Medicine"), and Suzhou Aussino Biotech Co., Ltd. ("Aussino Biotech") announced an exclusive strategic collaboration. This agreement focuses on the development, registration, manufacturing, and commercialization of TTYP01 tablets (oral edaravone tablets) in mainland China, Hong Kong, Macau, and Taiwan.

Under the terms of the agreement, Aussino Biotech will receive an initial payment of RMB 100 million and could earn up to RMB 1.185 billion through various milestones related to development, registration, and sales. Additionally, Aussino Biotech will benefit from tiered royalties on net sales, potentially reaching double-digit percentages.

Huadong Medicine will oversee the development, registration, manufacturing, and commercialization of TTYP01 tablets within the specified regions. Aussino Biotech will maintain responsibility for the drug's development and commercialization in other global markets. This agreement is effective immediately upon signing.

TTYP01 tablets, developed independently by Aussino Biotech, feature edaravone as their active ingredient in an oral tablet form. The medication has successfully completed Phase III clinical trials in China for the treatment of acute ischemic stroke. The company plans to submit a New Drug Application (NDA) in the fourth quarter of 2024.

TTYP01 tablets stand out as the only oral edaravone tablet available globally. This unique formulation is designed to enhance patient compliance and convenience, addressing both the acute and rehabilitation phases of stroke. As a result, it aims to offer significant therapeutic benefits to a large population of stroke patients.