Elanix Biotechnologies AG announced that the company has entered into a non-binding letter of intent (LOI) with Oxford MEStar Ltd. ("MEStar"). The LOI contains broad terms of a potential transaction whereby the two companies, together with UniNova, might establish a Chinese JV. In the first instance this would market Elanix's GynRepair, used for the treatment of vulvodynia, in the domestic market in China (PRC). The transaction is necessarily subject to entering into a definitive agreement between the parties, containing specific signing and closing terms and conditions yet to be finalised, negotiated and agreed up.