SAN DIEGO & SHENZHEN & TAIZHOU, China--(BUSINESS WIRE)--Shenzhen Relin Medicine (“Relin”), a leading Chinese ophthalmic pharmaceutical company, and MingSight Pharmaceuticals ("MingSight"), an innovation driven ophthalmic R&D company, today announced the formation of a joint venture, Jiangsu MingSight-Relin Pharmaceutical Co., Ltd (“MingSight-Relin”), to develop and commercialize an innovative treatment for diabetic eye disease in China.
MingSight-Relin, registered in Taizhou, Jiangsu, is focused on developing MS-553, a new chemical entity that has the potential to become a first-in-class oral therapy for diabetic eye disease. MingSight-Relin acquired the exclusive rights in China to MS-553 from MingSight, which previously in-licensed the compound from Pfizer through an exclusive worldwide licensing agreement.
“As a new chemical entity, MS-553 has demonstrated an excellent potency and safety profile in extensive preclinical studies previously conducted by Pfizer,” Said Mr. Xintao Xia, the General Manager of Relin. “This solid preclinical data forms the basis of our decision to undertake this project. Under the expert guidance from MingSight, the joint venture will conduct preclinical and clinical studies in accordance with international GLP and GCP standards. Therefore, we are confident that we can effectively advance the program through future studies.”
The partnership combines Relin’s track record of leadership in developing, registering, and commercializing ophthalmic products in China with MingSight’s world class expertise in ophthalmic drug development. To facilitate the global development of MS-553, the joint venture will adhere to the development standards of both the Chinese SFDA and US FDA as MS-553 advances through clinical proof-of-concept.
"We are pleased to collaborate with Shenzhen Relin, a proven leader in China in bringing high value therapies to patients suffering from ophthalmic diseases," said Kai Zhang, CEO of MingSight. “I look forward to working closely with Relin toward the goal of bringing an innovative therapy for patients with diabetic retinopathy.”
Diabetic retinopathy is one of the most common complications of diabetes and the leading cause of blindness among working adults in the US. The number of Americans 40 years or older with diabetic retinopathy is expected to triple to 16 million by 2050. In China, the disease burden is even larger with an estimated number of 92 million diabetics, many with diabetic eye disease. Innovative and improved treatments of diabetic retinopathy are needed to meet the significant and growing medical needs worldwide.
“MS-553 is unusual because when it is given orally, it achieves a high concentration in the retina,” said Michael Niesman, the Chief Scientific Officer of MingSight. “It has shown excellent efficacy and safety in preclinical studies. An effective and safe oral treatment for diabetic eye disease will be a significant advance for patients, potentially allowing them to avoid invasive therapies that often are given by injections into the eye.”
The collaboration between Relin and MingSight will be managed by a joint leadership team, consisting of members of senior management from both companies. Financial details of the joint venture were not disclosed.
About Shenzhen Relin Medicine:
Relin Medicine, founded in 1996, is focused on improving patient health in ophthalmology and other specialty disease areas. The company has established itself as a significant player in China’s ophthalmic market. Relin has formed collaborations with companies from the US, Germany, Switzerland, and Japan in the areas of healthcare technologies and therapeutics.
About MingSight Pharmaceuticals:
MingSight Pharmaceuticals is a privately held biopharmaceutical company focused on the research and development of ophthalmic therapeutics to improve the care of patients with serious eye diseases. MingSight is committed to building a strong pipeline through the identification, acquisition, and development of innovative ophthalmic compounds.