WASHINGTON--(BUSINESS WIRE)--Cyrano Therapeutics, Inc., the leader in therapeutic solutions for taste and smell disorders, today announced the establishment of a formal partnership with Shanghai Newsummit Biopharma (Newsummit), a China-based integrated services company for healthcare innovation. Under the terms of the partnership, Cyrano will establish a subsidiary in China, Wenzhou Cyrano, and NSB will provide regulatory, clinical and market development support to Wenzhou Cyrano to bring its intranasal formulation through the CFDA approval pathway and to patients throughout the country.
In addition to Newsummit’s specialized R&D services, the partnership also includes a financing component led by a pool of private Chinese investment firms gathered by Newsummit. Mr. JC Sun served as the strategic consultant and advisor for this partnership.
“Accelerating China market entry of Western innovative healthcare products is at the core of Newsummit’s business model. By efficiently and timely combining resources in R&D, clinical research, manufacturing, government support and local financing, we have devised a tailored approach that will significantly speed up the development of Cyrano’s intranasal formulation into a product that has the potential to literally change the life of millions of patients in China and worldwide”, said Mr. Irénée Robin, Chief Marketing Officer and Head of International Business for Newsummit Biopharma.
About Cyrano Therapeutics, Inc.
Cyrano Therapeutics, Inc. is a United States based pharmaceutical company developing therapeutic solutions for olfactory dysfunction, a condition that limits the ability to taste and smell in more than 14 million people in the USA and up to 12% of the population in China. There are also important medical consequences to this condition, as 30% of people with olfactory dysfunction experience hazardous events due to smell loss, usually due to the inability to detect gas, smoke, volatile chemicals or whether one’s food is contaminated. Cyrano has developed and placed in clinical investigation an intranasal formulation to treat this condition with the goal to make it available to patients worldwide.
About Shanghai Newsummit Biopharma Co. Ltd.
Established in 2001, Newsummit Biopharma is committed to accelerating the translation of healthcare innovations into clinically relevant products and services, for the benefit of patients in China and the world. Via its unique Collaborative Healthcare Organization (CHO) services model, Newsummit Biopharma leverages clinical, scientific, industrial, governmental and financial resources globally to create a unique, patient-centric healthcare product development ecosystem rooted in innovation. Newsummit Biopharma is a wholly owned subsidiary of Zhejiang Yatai Pharmaceuticals, a Chinese listed pharmaceutical company (SHE:002370) focused on the fight against infectious diseases.
1J Chin Med Assoc, 2009;72(2):68–71
For further information contact: www.cyranotherapeutics.com
