NexTurnBio Signs NDA with Chinese Pharmaceutical Company for Diabetes Treatment Development
[Asia Economy Reporter Jang Hyowon] RosVivo Therapeutics, Inc., a subsidiary of Nexten Bio (hereinafter RosVivo), announced on the 1st that it has signed a Non-Disclosure Agreement (NDA) with China Tonghua Dongbao Pharmaceutical for the development and technology export of diabetes treatment drugs within China.
Since the signed agreement is a confidentiality contract, detailed information cannot be disclosed, but it is known that Nexten Bio, as the largest shareholder of RosVivo, is conducting formal discussions and investment-related consultations to develop RosVivo's diabetes treatment drug in China.
A Nexten Bio official stated, "If the detailed negotiation conditions with China Tonghua Dongbao Pharmaceutical, which signed the NDA with RosVivo, are met, we will cooperate to ensure that RosVivo's diabetes treatment drug is developed in China and can be used as a new treatment option."
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Meanwhile, according to the International Diabetes Federation (IDF), in 2019, the number of diabetes patients in China reached 116.4 million, accounting for 11% of the adult population in China, and the related medical expenses amounted to $109 billion (approximately 128 trillion KRW).
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