Aoxing Pharma and Phoenix PharmaLabs to co-develop novel molecules for pain and drug addiction
US companies Aoxing Pharmaceutical and Phoenix PharmaLabs have entered into a co-development, manufacturing and license agreement related to a novel class of poly-receptor active opioid-like drug candidates targeting pain and substance abuse and addiction treatment.
Under the terms of the deal, Aoxing (which, though USA-headquartered, has its main operations in China) and PPL (a Utah-based clinical-stage drug discover firm) entered into a multi-party collaboration agreement for the development and regulatory approval of a novel class of therapeutics in both China and ex-China territories. The two companies will continue to co-collaborate with the US National Institute of Drug Abuse (NIDA) and the Chinese National Institute on Drug Dependence at Beijing University (NIDD).
Aoixing gets rights for China, Macau and HK
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