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HongKongExchangesandClearingLimitedandTheStockExchangeofHongKongLimite


LUYEPHARMAGROUPLTDIncorporatedinBermudawithlimitedliabilityStockCode02186VOLUNTARYANNOUNCEMENTEXCLUSIVEDEVELOPMENTANDCOMMERCIALIZATIONAGREEMENTINRELATIONTOTHENEWDRUGRIVASTIGMINEMULTI-DAYTRANSDERMALPAT

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Document on Subject : "HongKongExchangesandClearingLimitedandTheStockExchangeofHongKongLimite"— Transcript:

1 HongKongExchangesandClearingLimitedandTh
HongKongExchangesandClearingLimitedandTheStockExchangeofHongKongLimitedtakenoresponsibilityforthecontentsofthisannouncement,makenorepresentationastoitsaccuracyorcompletenessandexpresslydisclaimanyliabilitywhatsoeverforanylosshowsoeverarisingfromorinrelianceuponthewholeoranypartofthecontentsofthisannouncement. LUYEPHARMAGROUPLTD.(IncorporatedinBermudawithlimitedliability)(StockCode:02186)VOLUNTARYANNOUNCEMENTEXCLUSIVEDEVELOPMENTANDCOMMERCIALIZATIONAGREEMENTINRELATIONTOTHENEWDRUGRIVASTIGMINEMULTI-DAYTRANSDERMALPATCHWITHTOWAPHARMACEUTICALINJAPANTheboardofdirectors(the)ofLuyePharmaGroupLtd.(the,togetherwithitssubsidiaries,the)ispleasedtoannouncethatLuyePharmaSwitzerlandAG(Switzerland),afullyownedsubsidiaryoftheGroup,hasenteredintoanexclusivelicensing,developmentandcommercializationagreement(the)inrelationtothenewdrug,RivastigmineMulti-dayTransdermalPatch(RivastigmineMD),withTowaPharmaceuticalCo.,Ltd.()inJapan.AccordingtotheAgreement,LuyeSwitzerlandhasgrantedTowatheexclusiverighttodevelopandcommercializeRivastigmineMDinJapan.TowawillmakeanupfrontpaymenttoLuyeSwitzerlanduponsigningoftheAgreement,andwillmakefurthermilestonepaymentstoLuyeSwitzerlanduponachievementofcertaindevelopment,regulatoryandsalesmilestonesinrelationtoRivastigmineMD.TowawillalsomakeroyaltypaymentsonthesalesRivastigmineMDtoLuyeSwitzerland.Inaddition,RivastigmineMD,asanewdrug,isexpectedtoenterintophaseIIIclinicaltrialsinJapanandTowawillbearallcostsandexpensesrelatedtoclinicalstudiesandregistrationpurposesinJapan.TheBoardbelievesthat,Towa,asawell-knownpharmaceuticalcompanywithaprofessionalteami

2 nJapan,willacceleratetheresearchanddevel
nJapan,willacceleratetheresearchanddevelopment()andcommercializationofRivastigmineMDtomeettheclinicalneedsofpatientsinJapan. ABOUTRIVASTIGMINEMDRivastigmineMDisthetwice-weeklyinnovativepatchformulationofrivastigminedevelopedbytheGroup,indicatedforAlzheimersDisease.ItisakeyproductdevelopedbytheR&DplatformfortransdermalpatchoftheGroup,targetedforthetreatmentofcentralnervoussystemdiseases.RivastigmineMDhasalowerapplicationfrequencythantheonce-dailyrivastigminepatchesgenerallyavailableinthemarket,enablingittoimprovepatientsmedicationadherence.Thisproductanditsformulationmethodsareprotectedgloballyunderanumberofpatents.InMay2020,theMarketingAuthorizationApplicationwithintheEuropeanterritoryofthisproduct(Rivalif)hasbeenacceptedforreviewbycompetentauthoritiesoftheEuropeanUnion.InSeptember2020,ithasobtainedtheapprovalfromtheCentreforDrugEvaluationofthePeoplesRepublicofChina()toinitiateclinicaltrials.InadditiontoEuropeancountries,ChinaandJapan,theGroupalsoplanstoregisterthisproductintheU.S.andothercountries.Furthermore,theRivastigmineonce-dailypatchdevelopedbytheGroup,whichhasaproventrackrecordofproductR&Dandsales,hasbeenmarketedintheU.S.,Europeancountries,ChinaandcertainAsiancountries.ByOrderoftheBoardLUYEPHARMAGROUPLTD.LiuDianBoHongKong,18February2021Asatthedateofthisannouncement,theexecutivedirectorsoftheCompanyareMr.LIUDianBo,Mr.YANGRongBing,Mr.YUANHuiXianandMs.ZHUYuanYuan;thenon-executivedirectorsoftheCompanyareMr.SONGRuiLinandMr.SUNXin;andtheindependentnon-executivedirectorsoftheCompanyareMr.ZHANGHuaQiao,ProfessorLOYukLam,Mr.LEUNGManKitandMr.CHOYSzeChungJojo