Zhichun Health (09955.HK) announced that Bluefly Consulting transferred the exclusive sub-license previously granted to Clinect to the company, to use the licensed IP for the development, manufacture, promotion, advertising, distribution, and sales of Iloprost solution for infusion in mainland China, including any form, expression form, strength, concentration, administration technology, dosage, formula, packaging configuration, and mode. The price includes a $25 million prepayment, which will be paid in two installments, as well as an annual maintenance fee of $200,000.

The group stated that as Iloprost solution for infusion qualifies for orphan drug designation, it will be allowed to expedite the evaluation and approval process under the priority review program, thereby shortening the time to market. After the product is approved for marketing, it is expected to meet the clinical needs of severely pulmonary arterial hypertension patients with New York Heart Association (NYHA) class IV heart function who require injection therapy with prostacyclin analogs; improve the blood supply of patients with thromboangiitis obliterans (also known as Buerger's disease); and alleviate the symptoms of patients with peripheral arterial occlusive disease and improve their quality of life.

The Group believes that the licensing agreement and the development, manufacture, promotion, advertising, distribution, and sales of the product within the territory can broaden its patent product portfolio, strengthen its research and development capabilities, and deepen its strategic cooperation with pharmaceutical companies.