Medivir outlicenses MIV-210 to Daewoong

Medivir has announced a license agreement with Daewoong Pharmaceutical for its hepatitis B virus polymerase inhibitor drug, lagociclovir valactate (MIV-210). Under the terms of the agreement, Daewoong will assume responsibility for clinical development and have marketing rights in South Korea, Japan and China (including Taiwan, Macao and Hong Kong). Medivir is entitled to upfront, milestones and royalties on sales up to double-digital level, and has retained the exclusive marketing rights in the rest of the world. Daewoong Pharmaceutical also assumes the exclusive clinical development right from Hainan Noken Pharmaceutical Industry . The compound will get accelerated clinical development in South Korea, which permits use of Medivir’s phase I data for entry into phase II clinical development, and an earlier entry onto the market. Noken has been retained as a distribution partner for MIV-210 in China.