D-Pharm in deal with China's Jiangsu NHWA for epilepsy drug DP-VPA

2 June 2011

Israel-based clinical-stage biopharma company D-Pharm (TASE: DPRM) has entered into a licensing and co-development agreement with China’s Jiangsu NHWA Pharmaceutical (Shenzhen: 2262), to commercialize DP-VPA for epilepsy in the People’s Republic of China.

DP-VPA, a novel drug discovered and developed by D-Pharm for the treatment of patients with epilepsy, migraine and bipolar disorder, has completed a first Phase II study in epilepsy patients.

Under the terms of the deal, D-Pharm will receive upfront $1 million and development milestone payments of $1.4 million. In addition, on reaching defined annual sales NHWA will pay D-Pharm annual sales bonuses and royalties of 5% on DP-VPA revenues over a certain threshold in China.

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