Recently, Beijing Northland Biotechnology Co., Ltd. signed an agreement with South Korea's Huons Co., Ltd. in Beijing for the technology transfer of the recombinant human thymosin β4 project. This marks another significant collaboration between the two companies following their establishment of a joint venture in China in 2011.

In this agreement, NORTHLAND has transferred the rights to two indications targeted by its recombinant human thymosin β4 project—ophthalmic indication and hair growth agent—to South Korea’s Huons Company for a price of US$4.5 million. Huons is granted exclusive implementation rights in markets outside China, as well as the authority to develop and sell products for the specified indications. In addition to the technology transfer, NORTHLAND will also receive a certain percentage of sales royalties from products developed by Huons based on this technology. Meanwhile, both parties will jointly advance the R&D and clinical trials of this project in both China and South Korea and share the resulting R&D outcomes.

The recombinant human thymosin β4 project is a bio-innovative drug developed by NORTHLAND, primarily indicated for conditions such as myocardial infarction, skin injuries, and dry eye. The indication for myocardial infarction has already been submitted for a new drug clinical study in China (Acceptance No.: CXSL1300108) and has received support from the National 11th Five-Year Plan and 12th Five-Year Plan Major Science and Technology Projects. Furthermore, the company holds authorized invention patents in China, the United States, South Korea, Japan, and Europe.

Background information:

Huons is a well-known pharmaceutical company in South Korea, specializing in the research, development, and manufacture of ophthalmic drugs and plastic ampoule injections. Its wholly-owned subsidiary is one of the major suppliers to Alcon, the world’s largest manufacturer of ophthalmic products based in the United States. Some of its products have been sold to over 40 countries and regions, including the United States and Japan.

In 2011, NORTHLAND and South Korea's Huons Company jointly invested to establish Beijing Huien NORTHLAND Pharmaceutical Co., Ltd. in Tongzhou, Beijing, specializing in the research, development, and production of ophthalmic drugs. The company currently operates both single-dose and multi-dose production lines with an annual capacity of 110 million units.