Cyrano Therapeutics has announced a partnership agreement with Chinese CRO Shanghai Newsummit Biopharma (Newsummit) for development of Cyrano’s intranasal theophylline for the treatment of taste and smell disorders in China. Newsummit will provide development services to a new Cyrano subsidiary called Wenzhou Cyrano, with the goal of approval by the CFDA.
Newsummit has also put together financing for Cyrano with funding provided by private Chinese investment companies, the company said.
According to a Gust Launch page for Cyrano Therapeutics, the company is also looking for funding to develop intranasal theophylline for the treatment of hyposmia through the 505(b)2 pathway in the US.
Newsummit Chief Marketing Officer and Head of International Business Irénée Robin commented, “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.”
Read the Cyrano Therapeutics press release.
