PEGBIO CO-B (02565) announced that the company has entered into a non-binding term sheet with PDC FZ-LLC, a United Arab Emirates-based entity, regarding the exclusive licensing of the company's product Visepegenatide (PB-119), a subcutaneous GLP-1 receptor agonist for the treatment of Type 2 diabetes and weight management.
Under the proposed terms, PDC will be granted exclusive rights to develop, distribute, market, and commercialize the product in the Middle East and Africa regions. This collaboration represents a significant milestone in the company's global commercialization strategy for PB-119.
The license encompasses exclusive rights for regional development, product registration, local manufacturing involving comprehensive technology transfer, and full commercialization. The product will be marketed in the region under a trademark owned by PDC.
This partnership holds significant strategic importance, as PDC's extensive regional expertise and infrastructure can accelerate market access and penetration, validating the company's asset licensing strategy and making substantial contributions to the product's global deployment and the company's long-term value creation.
The Middle East and Africa regions present a large and continuously growing market for diabetes and obesity treatment medications. The high incidence and rising trends of these diseases highlight the substantial unmet medical needs and commercial potential for innovative therapies like PB-119.
PDC is a leading pharmaceutical research and development institution in the Middle East and Africa regions, with an excellent track record in conducting clinical trials. The PDC-CRO Group provides end-to-end innovative solutions for Phase I-IV clinical trials, real-world evidence studies, and life sciences solutions (health economics and outcomes research and consulting) throughout the region. Its established leadership position and deep regional integration are further consolidated through an extensive clinical trial site network and close collaboration with key opinion leaders, generating significant medical influence. This makes PDC one of the most suitable partners for accelerating the market access and commercialization process of Chinese innovative drugs like PB-119 in the region.
As of the date of this announcement, PDC is independent of the company and its connected persons, and has no connection with them.
The company's board of directors believes that PDC's decision to engage in this collaboration, as a respected regional leader, strongly validates the company's proprietary research and development capabilities, the outstanding clinical characteristics of Visepegenatide (PB-119), and its tremendous market potential. This collaboration demonstrates the international competitiveness and value of the company's product pipeline, reinforcing the company's position as an innovator in the metabolic disease field.
The proposed collaboration with PDC represents an important step in expanding PB-119's global presence and aligns with the overall interests of the company and its shareholders.