Raziel Closes Market License Agreement for RZL 012 with Fosun Pharma

Raziel Therapeutics, a Pharmaceutical company, is developing a novel synthetic small molecule (NCE) for aesthetics and fat disorders next-generation novel prescription products. Raziel Therapeutics licensed its disruptive technology, RZL-012, to Fosun Pharma from China for milestone payments of up to $74 million, based on development, regulatory and net sales achievements plus tiered royalties on future sales.

RZL-012 is an injectable drug product indicated for aesthetic treatment of adults having moderate to significant submental fullness, commonly referred as a double-chin. The compound is injected subcutaneously into submental fat tissue in a single injection session by trained physicians. RZL-012 destroys fat cells, resulting in fat volume reduction and improved appearance of the chin area. In a recent Phase 2a study conducted in the US, RZL-012 demonstrated a significant improvement in chin appearance following a single injection session and a very good safety profile. Submental fat treatment is the first indication for RZL-012 among many potential aesthetic treatments.

Today Mr. Alon Bloomenfeld announced that Raziel Therapeutics has entered into a license agreement with Tianjin JuveStar Biotech Co., Ltd., (JuveStar), a company invested and incubated by the venture capital arm of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (Fosun Pharma, stock code: 600196.SH, 02196.HK). The agreement provides JuveStar with exclusive rights to develop and commercialize Raziel‘s proprietary RZL-012 for Injection in mainland China, Hong Kong, Macau and Taiwan (the Territory). RZL-012 is the first, long-lasting single treatment injectable product for aesthetic and therapeutic applications. The mode of action of RZL-012 is also relevant for other potential future aesthetic indications such as excessive abdominal and flank fat. The injectable is also being developed for fat disorders such as lipomas, Dercum’s disease associated lipomas (rare disease) and lipedema.

Under the terms of the agreement, Raziel Therapeutics will receive potential payments (including upfront and R&D milestone payments) of $27 million between now and marketing approval in the Territory. Raziel is also eligible to receive additional potential sales milestone payments of up to $47 million, as well as tiered royalty payments on future net sales. JuveStar will be responsible for conducting necessary clinical studies (Phase III), marketing and sales in the Territory, while Raziel will be responsible for manufacturing the drug substance and finished drug product for both the clinical and commercial activities in the Territory. There will be no transfer of intellectual property.

Fosun Pharma is one of the leading healthcare companies in China, with expertise and access to both the aesthetic and therapeutic markets. We see Fosun Pharma as an ideal partner to commercialize RZL-012 in the fast-growing aesthetic Chinese market, said Alon Bloomenfeld, president and chief executive officer at Raziel Therapeutics. Fosun Pharma already has a growing portfolio of products in facial aesthetics, the field in which we plan to gain the first approval for RZL-012. We look forward to working with the Fosun Pharma team on the clinical, regulatory and commercial pathways to introduce RZL-012 to this important, developing geography.”

“We are pleased to partner with Raziel to bring a truly next generation fat melting injectable to China,” said Mr. Wu Yifang President and CEO of Fosun Pharma, “The collaboration will enrich Fosun Pharma‘s pipeline in the field of Medical Cosmetology and provide more options for the unmet clinical needs of the market.”

About Submental Fullness

Submental fullness is a common yet undertreated condition that can detract from an otherwise balanced and harmonious facial appearance – leading to an older and heavier look. Submental fullness can affect adults – both women and men – of all ages, weights and genders. Influenced by multiple factors including aging and genetics, submental fullness is often resistant to diet and exercise. According to a 2015 survey by the American Society for Dermatologic Surgery, 67 percent of consumers are bothered by submental fullness.

About RZL – 012

RZL-012 is the first product to seek approval for fat disorders such as Dercum’s disease. Aesthetic applications include but are not limited to subcutaneous intra-fat injections for improving the appearance of moderate to significant submental fullness, commonly referred to as double chin. RZL-012 is a small molecule entity having a formulation with no human and no animal related components. When injected into subcutaneous fat, RZL-012 destroys fat cells and reduces fat volume. Once destroyed, those cells can no longer store or accumulate fat.

About Fosun Pharma

Founded in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma“; stock code: 600196.SH, 02196.HK) is a leading healthcare group in China. Fosun Pharma has built a strong root in China and developed a global operation strategy, with pharmaceutical manufacturing and R&D being the largest and core business segment, together with strong presences in medical devices and diagnostics, healthcare services, pharmaceutical distribution and retail.

Fosun Pharma has been active in Israel since acquiring Alma Lasers for $240 million, and has already made investments in medical devices company Check-Cap, and Tyto Care, which makes possible remote family medicine, but these two investments were made directly by Fosun Pharma, whose venture capital fund is now looking for investments and partnerships in Israel.

With R&D innovation as core driving factor, Fosun Pharma continues to optimize its pharmaceutical operations across both innovative and generic drugs. The company has established international R&D centers for excellence in areas such as innovative small molecule drugs, high-value generic drugs, biologics, and cell-therapy.

For more information, please visit: www.fosunpharma.com.

About Raziel Therapeutics

Founded in 2012, Raziel Therapeutics is an emerging Israeli based pharmaceutical leader developing a disruptive technology for the treatment of aesthetic and therapeutic conditions linked to fat disorders. Raziel has developed a unique proprietary compound by obtaining a License from the Hebrew University. The company’s products are based on work by the team led by Professor Muli Ben-Sasson, who discovered a family of compounds that are able to influence the fate of fat-tissue cells (adipocytes) and convert them from WAT to BAT tissues.

The company’s lead compound, RZL-012, is in phase 2 clinical development for a broad range of aesthetic and therapeutic indications. In November 2019, Raziel received FDA approval to develop RZL-012 as an orphan drug for Dercum’s disease.

More information on Raziel Therapeutics may be found at https://raziel-therapy.com/

Source: Cision PRwire

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