VANCOUVER, Oct. 29, 2012 /PRNewswire/ -- Del Mar Pharmaceuticals (BC) Ltd. ("DelMar") today announced a strategic collaboration with Guangxi Wuzhou Pharmaceutical Company, a subsidiary of publicly traded Guangxi Wuzhou Zhongheng Group Co., Ltd (SHG 600252) for the development of VAL-083, known as "DAG for Injection" in China.
DAG for Injection in China, is approved by the Chinese State Food and Drug Administration (SFDA) as a cancer chemotherapy for the treatment of Chronic Myelogenous Leukemia (CML) and lung cancer. Guangxi Wuzhou Pharmaceuticals is licensed by SFDA to manufacture and sell VAL-083 in China for these indications.
DelMar is conducting clinical studies using the Guangxi Wuzhou Pharmaceutical's drug product in the United States as a potential treatment for refractory glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer.
In addition, DelMar is conducting research aimed at demonstrating the utility of DAG for Injection in cancers refractory to current therapies. Recently published data elucidated sub-types of CML and lung cancer that are uniquely prevalent in persons of East Asian decent and highly resistant to treatment by tyrosine kinase inhibitors (TKIs). DelMar's research demonstrates activity against cancer cell lines resistant to TKI therapy.
The Companies plan to use new data being generated through DelMar's clinical programs to expand the market in China and to seek regulatory approval for the drug in multiple indications on a global basis.
The collaboration expands the exclusive supply relationship between DelMar and Guangxi Wuzhou Pharmaceuticals to include the Chinese market and all markets outside China. The companies will work together to insure the product specifications meet global standards in order to accelerate international development and regulatory approval. Wuzhou Pharmaceuticals will be the exclusive supplier of DAG for Injection and DelMar will be responsible for development and commercialization.
"This expanded collaboration positions DelMar to unlock the value of our research by benefiting patients in China where our VAL-083 is already approved as a cancer chemotherapy," said Jeffrey Bacha, President & CEO of DelMar.
The expanded collaboration, was announced at a joint press conference and signing ceremony in Wuzhou China on October 24, 2012. During the ceremony, Chen Ming, Vice Chairman of Zhongheng Group, outlined six key areas of focus for the collaboration:
Xu Shuqin, Chairman of Zhongheng Group said, "It is understood that, through this collaboration, we will seek to establish approval of DAG for Injection through international authorities including FDA and EMEA and other international jurisdictions outside China for multiple indications including brain cancer. DelMar will assist Wuzhou Pharmaceuticals within China to support sales and marketing of the product and promote the optimization of production and quality assurance to meet international standards. Wuzhou Pharmaceuticals will assist DelMar by supporting international multi-center clinical trials. We will work together to jointly develop and promote Wuzhou Pharmaceuticals business in China, to maximize the value of products sold in the international market, and to lay the foundation for more extensive collaboration opportunities."
About Guangxi Wuzhou Pharmaceutical (Group) Co. Ltd. and Zhongheng Group Co. Ltd.
Guangxi Wuzhou Pharmaceutical (Group) Co. Ltd., a wholly owned subsidiary of Zhongheng Group Co., Ltd. (SHG 600252) is principally engaged in the manufacture of pharmaceuticals. The Company's main products include cardiovascular drugs, medicine for bruises, and gynecology medication, among others. Zhongheng Group is also involved in the investment and management of infrastructure, urban utility facilities, hotel, tourism and logistics services; asset operation and management, as well as domestic commercial trading. In addition, the Company is involved in the manufacture and distribution of Chinese herbal jelly products. The Company operates its businesses primarily in Wuzhou, Guangxi autonomous region, China. Further information is available on the company's website: http://www.wz-zhongheng.com/
About DelMar Pharma
DelMar Pharma was founded in 2010 to develop and commercialize proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments. Our lead asset, VAL-083, benefits from extensive clinical research sponsored by the US National Cancer Institute, and is currently approved as a cancer chemotherapeutic overseas. Efficacy has been demonstrated in a range of tumor types, including glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer.
For further information, please visit www.delmarpharma.com or contact Jeffrey A. Bacha, President & CEO (604) 629-5989
Media and Investor Relations Contact:
Michael Rice (Investor Relations)
|SOURCE Del Mar Pharmaceuticals|
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