Quark Venture Inc. affiliate GDCC forges new China licensing rights with Biscayne Neurotherapeutics for innovative antiepileptic treatment
Global Drug Commercialization Centre (GDCC) initiative creates comprehensive partnership with Biscayne for development and sales of its leading antiepileptic treatment in Asian markets
Vancouver, British Columbia – April 19, 2018 – Quark Venture is pleased to announce its Chinese affiliate Global Drug Commercialization Centre (GDCC) has entered into a licensing agreement with Biscayne Neurotherapeutics for rights to Biscayne’s lead antiepileptic treatment BIS-001ER (extended range) in China, Taiwan, Hong Kong and Macau.
The agreement gives GDCC rights to BIS-001ER’s intellectual property in select Asian locations and allows for Biscayne to provide technical assistance to GDCC to facilitate the development, regulatory approval and marketing of the product. Biscayne Neurotherapeutics received an upfront payment from GDCC and is also eligible to receive milestone payments and royalties on BIS001ER sales. GDCC is the drug development and commercialization affiliate in China of Quark Venture and the Global Health Sciences Fund.
Stephen Collins, MD, PhD, President and Chief Executive Officer of Biscayne Neurotherapeutics, said in a company press release, “We are delighted to finalize an agreement for the development and marketing of BIS-001ER in China, the world’s largest market for antiepileptics. The agreement is an example of the multiple benefits we are realizing from our relationship with Quark Ventures and the Global Health Sciences Fund, which led our 2017 Series B financing. They were instrumental in facilitating this partnership with GDCC, their drug development and marketing affiliate in China.”
Karimah Es Sabar, Chief Executive Officer, Quark Venture, echoed Dr. Collins’s sentiments. “Quark’s focus on building strategic relationships, either independently or via our partnership with the Global Health Sciences (GHS) Fund, creates dynamic bio-tech opportunities such as this one, which draws on experts at our GDCC China affiliate and Biscayne Neurotherapeutics,” she said. “BIS-001ER is a leading-edge antiepileptic treatment that offers life-improving care for patients dealing with a serious, debilitating condition. Through this agreement we can advance production and distribution of BIS-001ER throughout key Asian markets and bring its efficacy to thousands and thousands of people in need of treatment.”
Biscayne is developing BIS-001ER to treat refractory forms of focal epilepsy, including FIAS and catastrophic pediatric onset epilepsies such as Dravet and Lennox Gastaut syndromes. It has been recognized with a U.S. FDA Orphan Drug designation for the treatment of Dravet syndrome.
BIS-001ER is a synthetic form of huperzine A, a traditional Chinese medicine used for centuries to treat cognitive ailments. Huperzine A is a potent acetylcholinesterase inhibitor with high brain penetration, offering a novel action mechanism to treat epilepsy. Biscayne has announced initiation of a Phase 2 study of BIS-001ER in subjects with Focal (onset) Impaired Awareness Seizures (FIAS), the most common form of adult epilepsy. BIS-001ER has shown promising results in preclinical models of severe epilepsy and successfully completed a Phase 1b safety trial late last year.
Epilepsy is a neurological disorder characterized by random, recurrent seizures. Over 50 million people around the world are affected, and in 50 percent of cases the cause is unknown.
About Quark Venture
Quark Venture invests in innovative biotechnology and health technology companies and supports them with its expertise in bioscience commercialization and equity financing. The company’s strategic focus is global investments in disruptive platforms and technologies impacting human health. Through its China affiliate, the Global Drug Commercialization Center (GDCC), Quark’s leading-edge Development Centre and SME Accelerator in China helps small- and medium-size enterprises successfully access the China market to grow, innovate and bring better health outcomes to millions of people. Quark Venture partners with scientific and commercial thought leaders across the globe. For more information visit www.quarkventure.com
About Biscayne Neurotherapeutics
Biscayne Neurotherapeutics is a clinical-stage biotechnology company developing novel drugs for serious central nervous system disorders such as refractory epilepsy. Biscayne’s lead compound BIS-001 has shown striking efficacy in highly predictive models of difficult-to-treat epileptic conditions such as complex partial seizures and Dravet syndrome. Biscayne’s technology is licensed from Harvard University, Yale University and the University of South Florida. Biscayne is headquartered in Miami, FL. For more information, visit http://biscayneneuro.com
For more information about Quark Venture contact: Kaley Wilson at firstname.lastname@example.org