Mycovia Pharmaceuticals, Inc. and Jiangsu Hengrui Medicine Co., Ltd. announced an exclusive agreement to develop and commercialize Mycovia’s investigational drug, VT-1161 (otesaconazole), in China, including mainland China, Hong Kong, Macau, and Taiwan, for the treatment or prevention of a range of fungal conditions, including recurrent vulvovaginal candidiasis (RVVC), onychomycosis and invasive fungal infections. RVVC is also known as chronic yeast infection and is often accompanied by severe physical discomfort and emotional burden. Mycovia is currently conducting global Phase 3 trials of VT-1161 in women with RVVC to support marketing applications in the US, the European Union and Japan. NovaQuest Capital Management formed Mycovia in 2018 to advance VT-1161 in global markets. With this partnership, Mycovia is eligible to receive development funding, regulatory milestones, sales milestones and royalties on net sales of VT-1161 in China.