Windtree Therapeutics has signed an agreement with Hong-Kong based Lee’s Pharmaceutical Limited for the development and commercialization of Aerosurf and other KL4 surfactant products in a number of Asian countries, the company said. Lee’s will also have the right to manufacture KL4 surfactants in China, but aerosol products are excluded from that license.
In February 2017, Lee’s Pharm invested $2 million in Windtree in a private placement. Lee’s will cover all development costs in the region covered by the license and will pay Windtree $1 million up front and up to $37.5 million in milestone payments and royalties.
Windtree Therapeutics President and CEO Craig Fraser commented, “China and the surrounding Asian markets represent a significant market opportunity for Windtree and our KL4 surfactant technology. Through our collaboration with Lee’s, we will be able to access and grow the KL4 surfactant opportunity outside of the US and pursue development of Aerosurf and our other KL4 surfactant products with a proven partner. I am excited about the potential of Aerosurf to both transform and expand the management of respiratory distress syndrome (RDS) worldwide and this collaboration with Lee’s will significantly enhance our development and realization of this goal.”
Lee’s Pharm CEO Benjamin Li said, “We are delighted to announce this collaboration with Windtree. Given the size of the RDS population and as a high growth, current top surfactant market, we are enthusiastic about our prospects to develop and market Aerosurf and the other KL4 surfactant products for our premature infants with RDS. We also see real potential to address other acute pulmonary diseases and conditions and plan to explore these opportunities with Windtree. Together with the group’s other assets, this partnership will strengthen the group’s position in neonatal critical care.”
Read the Windtree Therapeutics press release.
