AMAG will receive an upfront payment of $1 million from 3SBio and is eligible to receive additional milestone payments upon regulatory approval of ferumoxytol in China for CKD and other specified indications. AMAG is also entitled to receive tiered, double-digit royalties, of up to 25%, based on sales of ferumoxytol by 3SBio.
"We are very pleased that AMAG Pharmaceuticals has entrusted 3SBio to develop and commercialize ferumoxytol in China," said Dr. Jing Lou, Chief Executive Officer of 3SBio. "Along with AMAG, we are committed to bringing this innovative medicine to millions of patients in China. This partnership represents a key milestone towards our goal of establishing 3SBio as the partner of choice in China for biotechnology companies around the world."
About AMAG Pharmaceuticals, Inc.
AMAG Pharmaceuticals, Inc. is a biopharmaceutical company that utilizes its proprietary nanoparticle technology for the development and commercialization of therapeutic iron compounds to treat anemia and novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease.
Ferumoxytol, the Company's key product candidate, is being developed
for use as an intravenous iron replacement therapeutic agent for the
treatment of iron deficiency anemia in chronic kidney disease patients. The
Company has released data on all four planned Phase III clinical trials of
ferumoxytol as an intravenous iron replacement therapeutic agent in chronic
kidney disease patients. The Company submitted a New Drug Application for
marketing approval of ferumoxytol with the U.S. Food and Drug
Administration (FDA) in December 2007, which was accepted for filing by the
FDA in February 2008.
|SOURCE 3SBio, Inc.|
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