Milestone Pharmaceuticals has announced a new agreement with Ji Xing Pharmaceuticals giving Ji Xing Chinese development and commercialization rights to Milestone’s etripamil nasal spray in patients with cardiovascular conditions, including paroxysmal supraventricular tachycardia (PSVT). Ji Xing will pay $15 million up front and up to $107.5 million in milestone and future royalty payments, and Ji Xing funder RTW Investments will make a $5 million equity investment in Milestone. Ji Xing will be responsible for Chinese development and commercialization, and Milestone will supply Ji Xing with etripamil and delivery devices.
Milestone initiated the RAPID Phase 3 trial of etripamil nasal spray for the treatment of PSVT in November 2020 after having reaching an agreement with the FDA on design of the study in July 2020. A previous Phase 3 trial, NODE-301, failed to meet its primary endpoint.
Ji Xing CEO Peter Fong said, “Etripamil has the potential to change the treatment paradigm for PSVT and could serve as a meaningful new therapeutic option for patients. We are delighted to expand Ji Xing’s cardiovascular focus by partnering with Milestone and look forward to unlocking the full therapeutic potential of etripamil for patients with PSVT in China.”
Milestone Pharmaceuticals President and CEO Joseph Oliveto commented, “This agreement marks an important step toward realizing our vision for etripamil to benefit patients living with PSVT globally while strengthening our balance sheet and executional capabilities through partnership. We look forward to partnering with the talented team at Ji Xing to develop and commercialize this promising therapy in the licensed regions.”
Read the Milestone Pharmaceuticals press release.
