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General Announcement::iX Biopharma Signs Wafesil Licensing Agreement with China Resources Pharmaceutical Commercial Group

09/29/2021 | 08:12pm EDT

(Co. Reg. No: 200405621W)



iX Biopharma Signs Wafesil Licensing Agreement with China Resources Pharmaceutical Commercial Group

    • 1st deal between both parties following the signing of the strategic cooperation framework agreement in April
  • 10-yearpartnership will allow both parties to tap collective strengths and

  • capture vast opportunities in China

Singapore, 30 September 2021 - Specialty pharmaceutical company iX Biopharma Ltd ("iX Biopharma" or, the "Group") has entered into an agreement with China Resources Pharmaceutical Commercial Group Co., Ltd ("CRPCG") through its wholly-ownedsubsidiary China Resources Pharmaceutical Commercial Group International Trading Co., Ltd. (华润医 药商业集团国际贸易有限公司), for the licensing, supply and distribution of Wafesil, a sublingual sildenafil wafer for the treatment of male erectile dysfunction, in China (the "Licensing Agreement").

This Licensing Agreement marks the 1st deal between CRPCG and iX Biopharma following the execution of a strategic cooperation framework agreement announced in April 2021, to engage in all-round cooperation including licensing and joint-venture activities in respect of iX Biopharma's sublingual pharmaceutical and nutraceutical products in China. The Licensing Agreement runs for an initial term of 10 years and will allow both parties to tap on their collective strengths and capabilities to capture the vast opportunities in the China market.

CRPCG is the primary profit centre of China Resources Group, which ranked 69th on Fortune Global 500 in 2021, and CRPCG is also the third largest pharmaceutical distributor in mainland China by revenue. Generating about RMB151 billion in revenue in FY2020, CRPCG distributes products directly through its extensive network to more than 7,000 hospitals, 47,000 community medical institutions and 97,000 retail and cooperative pharmacies across China.

Under the terms of the Licensing Agreement, CRPCG will be responsible for obtaining the marketing authorisation for Wafesil from the relevant authorities in China. Upon registration,


(Co. Reg. No: 200405621W)


iX Biopharma will manufacture and supply Wafesil to CRPCG at a mutually agreed price, and CRPCG will exclusively market and distribute the product in China. The agreement further provides for CRPCG to make certain upfront and licensing fee payments to iX Biopharma prior to the commercialisation of Wafesil.

Ms Eva Tan, Chief Commercial Officer of iX Biopharma said: "We are honoured to be partnering one of the best and largest pharmaceutical distribution companies in China in our effort to accelerate our penetration into this market. China is one of the world's fastest growing healthcare markets and second largest healthcare market in the world 1 . The deepening of our relationship with CRPCG in this manner is a significant step forward for iX Biopharma, and we believe that this will be the first of many more deals to be forged between us."

iX Biopharma had, in April 2020, entered into a licensing, distribution and supply agreement with Yiling Pharmaceutical Ltd in China in respect of Wafesil. However, in light of the broader partnership with CRPCG, the Company reached an agreement with Yiling Pharmaceutical to terminate the agreement.

Wafesil is a new dose form of sildenafil, formulated using iX Biopharma's patented sublingual drug delivery technology, WaferiX. It is a registered pharmaceutical medicine in Australia.


1 SCMP Research, South China Morning Post China Healthcare Report 2020.


(Co. Reg. No: 200405621W)


About China Resources Pharmaceutical Commercial Group Co, Ltd.

China Resources Pharmaceutical Commercial Group Co., Ltd. (华润医药商业集团有限公司) is a leading pharmaceutical commercial company in China. It has its own distribution and retail platform with nationwide network coverage of China, providing highly professional and efficient pharmaceutical logistics, marketing and other innovative value-added services for upstream suppliers and downstream customers. CRPCG has 330 subsidiaries in 28 provinces with its sales network covers all 31 provinces (municipalities and autonomous regions) and Hong Kong and Macao Special Administrative Regions in China. It operates a national distribution network comprising 179 logistics centres, directly distributing products to hospitals and other medical institutions across the country and operates one of the largest retail pharmacy networks in China, comprising over 850 pharmacies under national premium brand - "Teck Soon Hong(德 信行)".

About iX Biopharma Ltd

iX Biopharma is a specialty pharmaceutical and nutraceutical company listed on the Catalist board of the Singapore Exchange Securities Trading Limited (SGX-ST), operating a fully integrated business model from drug development to manufacturing and supply, with facilities in Australia. The Group is focused on the development and commercialisation of therapies for diseases of the central nervous system using novel, patent-protected formulations for sublingual delivery.

iX Biopharma has developed a patented drug delivery platform technology, WaferiX. WaferiX delivers drug sublingually via the mucosa for better absorption, faster onset of action and predictable effect. The WaferiX delivery platform is particularly useful for drug repurposing which is a growing trend with a global market worth over US$30 billion2. Drug repurposing is where existing approved drugs are developed into new drugs targeting different indications or a different route of administration, at a lower development cost and risk.

iX Biopharma's pipeline of products under development includes Wafermine (ketamine wafer) and BnoX (buprenorphine wafer) for pain management. iX Biopharma's drugs for the treatment of erectile dysfunction, Wafesil, a sublingual sildenafil wafer, and Silcap, have been registered in Australia and Singapore. iX Biopharma has developed Xativa, the world's first freeze-dried sublingual medicinal cannabis wafer.

The Group's nutraceuticals division, Entity Health Limited, is engaged in the development and commercialisation of nutraceutical products that address specific conditions and improve quality of life. It distributes its Entity line of nutraceutical products in Australia through more than 250 pharmacies and health food shops, in China through its flagship stores on Tmall Global and JD Worldwide, and globally through its online store.

2 https://www.intechopen.com/books/drug-repurposing-hypothesis-molecular-aspects-and-therapeutic-applications/drug-repurposing-dr-an-emerging-approach-in-drug-discovery


(Co. Reg. No: 200405621W)


Contact for media:

Yee Chia Hsing

Eva Tan

Director of Corporate Affairs

Chief Commercial Officer

T: +65 6235 2270

T: +65 6235 3212

E: chiahsing.yee@ixbiopharma.com

E: eva.tan@ixbiopharma.com

Alvina Tan

Media & Investor Relations Consultant

T: +65 9787 7267

  1. alvina.tan@arkadvisors.com.sg

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President at 8 Anthony Road, #01- 01, Singapore 229957, telephone (65) 6590 6881.



IX Biopharma Ltd. published this content on 30 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2021 00:11:01 UTC.

© Publicnow 2021
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