AUBURN, Ala. & TAIPEI, Taiwan
Sunny Pharmtech Inc., a Taiwan-based API and finished-dose drug development company, and Vitruvias Therapeutics LLC, a generic drug development company, announced today that they have signed two additional agreements to co-develop and market two additional high-value generic drugs. This will expand the original partnership agreement signed on April 2015, from four to five products, and adds a separate agreement which allows Vitruvias to buy in to a late stage, injectable project for $1.75 mil in upfront and milestone payments.
The addition of these two projects will strengthen the portfolios of both organizations by adding products in markets that currently exceed $600 mil dollars. Both projects are in the final stages of development with the first ANDA tentatively scheduled for filing in the second quarter of 2017.
“We are thrilled to have the opportunity to further partner with Sunny Pharmtech on projects as sophisticated as these,” said Carl Whatley, General Manager of Vitruvias. “They have proven themselves to be an innovation-engine with regards to difficult-to-develop generics, and we are very fortunate to have found a partner with such a high level of development expertise.”
Dr. Yon-Lian Wu, Sunny Pharmtech’s CEO and Chairperson, added, “I am delighted to announce the strengthening of the strategic partnership between Sunny Pharmtech and Vitruvias. These additional projects will allow us to address markets where the options for the patient are limited. We hope our eventual entry into these underserved markets will represent opportunities for patients who need these medicines, and our respective organizations.”
About Sunny Pharmtech Inc.
Sunny Pharmtech Inc. is an emerging specialty pharmaceutical company based in Taiwan and was founded in 2004 with a focus on the development of technically difficult products. In 2014, the capability of developing and producing active pharmaceutical ingredients was added. The resulting organization is now fully-integrated, doing research, development, and manufacturing on both API and finished-dose products which includes orals, liquids, semi-solids, and parenterals. www.sunnypharmtech.com/home/
About Vitruvias Therapeutics LLC
Vitruvias is an emerging specialty pharmaceutical company which develops, manufactures, and markets generic prescription products for the U.S. and Canadian markets. Founded in 2013, the privately-held company specializes in generic semi-solid and parenteral products. The current focus of the company is on the development of selective, high-value generic products with their first approval expected in 2017. www.vitruvias.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20160418005007/en/
CONTACT
Vitruvias Therapeutics LLC
Carl Whatley, 334-329-5601
carl@vitruvias.com
or
Sunny
Pharmtech Inc.
Newman Pui, +886 22664-9600
newman.pui@sunnypharmtech.com
