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3SBio and Isotechnika Pharma Announce Strategic Partnership to Develop and Commercialize Voclosporin in China
Date:8/24/2010

ive an upfront non-refundable licensing payment of US$1.5 million. Isotechnika will also receive ongoing royalties based on sales of voclosporin by 3SBio.

3SBio will invest the US$4.5 million in Isotechnika through a three-year convertible debenture which will pay interest of 7% payable semi-annually. Isotechnika has the option to pay interest in cash or to issue new shares at the prevailing price when the interest is payable. 3SBio has the right to convert the debenture at any time into common equity of Isotechnika at a conversion price of C$0.155 per share. At maturity, any remaining balance will be paid by the issuance of common shares at a price of C$0.155 per share. 3SBio will also nominate one member to Isotechnika's Board of Directors.

"This agreement represents an important milestone for the continued development of voclosporin in transplantation indication worldwide after Isotechnika regained global rights of this product in 2008," commented Dr. Robert Foster, the President and CEO of Isotechnika. He continued, "3SBio's commercial expertise and leading franchise in nephrology in China make the company an ideal partner for the region and provides further validation of voclosporin's market potential. We continue to seek strategic partnerships in other regions."

"Along with Isotechnika, we are committed to bringing this innovative medicine to China's approximately 100,000 transplant recipients, a population which is growing by about 10,000 new patients per year," said Dr Jing Lou, Chief Executive Officer of 3SBio. He continued, "This partnership reinforces our goal of establishing 3SBio as the partner of choice in China for biotechnology companies around the world. We look forward to working with our partners at Isotechnika to prepare and file a dossier for SFDA regulatory approval to begin a phase III trial for voclosporin in China."

In April 2009, voclosporin completed a phase IIb North American trial for the prevention of kid
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SOURCE 3SBio Inc.
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