Raziel out-licenses RZL-012 in China

Raziel Therapeutics, an Israel-based pharmaceutical company developing next-generation novel prescription products for the medical aesthetics market, has licensed its disruptive technology, RZL-012, to Fosun Pharma (HK: 02196) for milestone payments of up to $74 million, based on development, regulatory and net sales achievements plus tiered royalties on future sales.

RZL-012 is an injectable drug product indicated for aesthetic treatment of adults having moderate to significant submental fullness, commonly referred as a double-chin. The compound is injected subcutaneously into submental fat tissue in a single injection session by trained physicians. RZL-012 destroys fat cells, resulting in fat volume reduction and improved appearance of the chin area. In a recent Phase IIa study conducted in the USA, RZL-012 demonstrated a significant improvement in chin appearance following a single injection session and a very good safety profile. Submental fat treatment is the first indication for RZL-012 among many potential aesthetic treatments.

The agreement provides JuveStar, a company invested and incubated by the venture capital arm of Shanghai Fosun Pharmaceutical, with exclusive rights to develop and commercialize Raziel's proprietary RZL-012 for Injection in mainland China, Hong Kong, Macau and Taiwan (the Territory).