Sosei assigns SD118 assets to Beijing Tide Pharma

Japanese biopharma firm Sosei Group Corp (TSE Mothers Index: 4565) announced that its wholly-owned Japanese subsidiary, Sosei Co has assigned its rights to the assets of SD118 to a Chinese pharmaceutical company, Beijing Tide Pharmaceutical Co.

Sosei KK, together with its co-development partner NeuroDiscovery of Australia, had been developing SD118 for the treatment of neuropathic pain. SD118 was previously under investigation in Japan for a different indication, but following re-profiling has demonstrated its potential as a new therapy for neuropathic pain.

Sosei KK decided to assign its rights for SD118 in order to prioritize and focus development resources. Under the terms of the agreement, Sosei KK will receive payments from Beijing Tide based on revenues arising from the commercialization of SD118. No further financial terms were revealed.