A.P. PHARMA, RHEI IN AGREEMENT TO DEVELOP DRUG IN ASIA

A.P. Pharma and RHEI Pharmaceuticals have announced that A.P. Pharma has granted an exclusive license to RHEI Pharmaceuticals to develop and sell APF530 in Greater China, which under the agreement includes China, Taiwan, Hong Kong and Macau. APF530 is currently in Phase III trials in the U.S. for the prevention of acute and delayed chemotherapy-induced nausea and vomiting.

While specific license terms were not disclosed, the agreement calls for an upfront payment to A.P. Pharma and includes provisions for milestone payments and double-digit percentage royalties on future net sales.

RHEI is a specialty pharmaceutical company that acquires, licenses, develops and commercializes therapies in China. RHEI partners with pharmaceutical and biotech companies to extend market entry to China. "RHEI provides the key factors to make APF530 a success in that region, including regulatory and marketing expertise combined with an experienced sales network with access to extensive hospital coverage," said Michael O'Connell, CEO of A.P. Pharma.