AndroScience Corporation (ASC) announced today the forming of a strategic partnership with Orient Europharma Co. Ltd. (OEP) of Taiwan. The collaborative agreement centers on the clinical development and commercialization of ASC’s lead therapeutic candidate, ASC- J9® as a topical anti-acne product. Under terms of the agreement OEP is responsible for clinical study expenses related to an ASC-J9® phase IIb multi center trial in acne vulgaris. Scheduled to commence in September 2010, the 180 patients, double-blinded, placebo controlled efficacy study will be jointly conducted at clinical sites in Taiwan and the USA. Under this agreement OEP will secure rights to the ASC-J9® acne product as the exclusive commercialization partner for the core territories of Taiwan, Hong Kong, S. Korea, New Zealand, Australia, and other select markets served by OEP throughout Asia Pacific. ASC will support market approval of the ASC- J9® acne product in OEP designated territories by providing new drug approval materials following successful regulatory submission of the product in the US or Europe. Recently, ASC has initiated active discussions with US and European based multinational pharmaceutical companies to license the ASC-J9® acne product in major global markets.
Charles Shih, PhD President, CEO and Founder of ASC stated, “We are very impressed with OEP’s robust clinical development and drug commercialization expertise. Aligning with OEP allows access to the capital resources necessary to complete a critical milestone towards demonstrating ASC-J9® as a safe and efficacious acne treatment. We maintain that ASC has secured a favorable agreement with a partner focused on long-term strategic goals for the ASC-J9® topical acne product.”