A&B and China Medical System enter agreement with Faron for Traumakine

Clinical-stage biopharma company Faron Pharmaceuticals has entered into strategic agreements with China Medical System Holding and A&B Ltd to develop and commercialize Traumakine (interferon beta-1a) to treat moderate to severe acute respiratory distress syndrome.

China Medical System has acquired exclusive assets and rights for the development and commercialization of Traumakine in China, Hong Kong, Macao and Taiwan. A&B, an investment and development company based in Hong Kong, owned by the chief executive of China Medical System, has made a simultaneous strategic $5.6 million investment in Faron.

Traumakine is entering a pan-European Phase III trial in 2015 and has the potential to be the first pharma treatment of moderate to severe acute respiratory distress syndrome. Phase II results demonstrated more than an 80% reduction in mortality in the Traumakine treatment arm. After a successful Phase II trial, marketing authorization and licenses are expected to be obtained for the development and commercialization in the territories. Further development costs will be covered by A&B.