News and Announcements
SUDA Enters Licensing Agreement For ZolpiMist in China
- Published November 09, 2016 4:38PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
9th November 2016, ASX Announcement
SUDA LTD (ASX: SUD), a leader in oro-mucosal drug delivery, and Eddingpharm (Asia) Macao Commercial Offshore Limited (Eddingpharm), a leading Chinese pharmaceutical company, today announce that the companies have entered into an exclusive license agreement for the development and commercialisation of SUDA’s novel ZolpiMist™ oral spray of zolpidem tartrate to treat insomnia in China. Once approved by the Chinese Food and Drug Administration (CFDA), ZolpiMist would be the first imported fast-acting oral spray of zolpidem tartrate available in China.
Under the terms of the agreement, SUDA receives an upfront cash payment of US$300,000 (approx. A$400,000) and is entitled to receive a further milestone payment of US$200,000 (approx. A$260,000) following registration of the product in China.
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