TaiGen, R-Pharm sign exclusive agreement to develop and commercialize nemonoxacin

TaiGen Biotechnology Company, Limited ("TaiGen") today announced that they have signed an exclusive agreement with R-Pharm, a leading Russian pharmaceutical company, to develop and commercialize nemonoxacin (Taigexyn^®) in the Russian Federation, Turkey and other members of the Commonwealth Independent States (CIS). Nemonoxacin is a novel antibiotic for the treatment of bacterial infections including those caused by drug-resistant bacteria. Under the terms of the agreement, R-Pharm will be responsible for the development, registration and commercialization of nemonoxacin in these territories and assume all associated costs. In exchange for the exclusive rights, TaiGen will receive an upfront payment and is eligible for additional regulatory and commercial milestones as well as royalties on product sales in the future.