On April 13th, Grandpharma (00512.HK) announced that after the introduction of a global pioneer product (a small molecule peptide xerophthalmia product) earlier this year, the company has obtained another global innovative product in the field of ophthalmology called CBT001, which is still under development.
As the announcement shows, Grandpharma has been granted the exclusive (including technology transfer) and commercial rights of CBT001, a global innovative product developed by Cloudbreak Therapeutics LLC, in mainland China, Hong Kong, Macau and Taiwan (‘Greater China’) for a total of not more than 74.5 million yuan, and the scope of authorization covers all indications for CBT001 including pterygium. This move will enrich Grandpharma’s core products reserve and increase the long-term innovative product competitiveness of the company.
As one of the largest ophthalmic drug R & D, production and sales enterprises in China, Grandpharma has been committed to the development and introduction of new products in the ophthalmic field. This cooperation not only further enriches the high-tech and innovative product line in the field of ophthalmology, but also provides strategic reserves for the company’s medium and long-term development. At the same time, Grandpharma’s equity investment in Cloudbreak Therapeutics LLC also provides a basis for further cooperation and product development between the two sides, helping to make full use of its management and Core R & D teams who have rich experience in large enterprises management and R & D, which provides technical support for new products development.
