Chesterbrook-Based Trevena Receives Milestone Payment from Licensing Partner in China
After the FDA approved its new pain medication, Olinvyk, earlier this month, Chesterbrook-based Trevena has received a $3 million milestone payment from its licensing partner in China, writes John George for the Philadelphia Business Journal.
Jiangsu Nhwa Pharmaceutical holds an exclusive license agreement with Trevena to develop, manufacture, and commercialize the pain drug in China.
Olinvyk was approved for “the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate,” wrote the company.
Trevena will now support its licensing partner’s efforts to advance the drug toward regulatory approval in China, according to Trevena CEO Carrie Bourdow. Jiangsu Nhwa had already received approval from the Chinese National Medical Products Administration to start clinical trials on the drug.
Trevena expects to receive further milestone payments from its partner, as well as a 10 percent royalty for net sales of the drug in China.
Trevena, which has around two dozen employees, is also currently working on new drug candidates for treating migraines and central nervous system disorders, as well as one for opioid use disorder.
Read more about Trevena in the Philadelphia Business Journal here.
You Might Also Like
Chesterbrook-Based Trevena’s Stock Surges After FDA Approves New Pain Med
If at First You Don’t Succeed … Chesterbrook-Based Trevena Tries Again with Experimental Opioid
Pair of Chester County Companies Working on Potential COVID-19 Treatments
Connect With Your Community
Subscribe to stay informed!
"*" indicates required fields