Destiny Pharma PLC (AIM:DEST) said its partner in China is to launch a new programme aimed at delivering a new product using Destiny’s XF-73 to target the prevention and treatment of superficial skin infections caused by bacteria.
China Medical System Holdings (HKG:0867) Ltd (CMS), the AIM-listed company’s regional partner and also an investor with a 5.76% stake, is establishing a programme in China to focus on developing a novel product in the local regulatory environment.
CMS will lead, manage and fund the programme, with Destiny contributing scientific advice as required through a steering committee to the expert dermatology team at CMS.
Destiny Pharma noted that CMS already has a portfolio of dermatology assets and therefore an expert understanding of the market and its requirements through its existing sales and marketing infrastructure.
The UK company said it will have cross-reference rights to data generated from the programme and so could, in the future, start a similar skin infection clinical programme focused on commercial territories outside those held by CMS.
Destiny is currently running its own dermal programme with XF-73 in a different indication, targeting the prevention and treatment of serious infections associated with burns and open wounds.
It said the new CMS initiative will add a further, differentiated product to its pipeline, leveraging off the strong efficacy, formulation and safety package generated to date by the XF platform.
Neil Clark, Destiny’s chief executive, said: “We are looking forward to the future development of this programme as well as our other infection prevention assets as we continue to build a high quality, late-stage biotechnology company.”