Zhittya Genesis Medicine, Inc. (a private company) (“Zhittya” or the “Company”), has signed a $150 million USD international marketing partnership agreement with Regenerative Medicine of China, Inc. for the exclusive rights to market and sell all biological drugs developed by Zhittya during a 30-year time period. The payments include an initial upfront payment valued at $75 million with the additional $75 million to be amortized through future milestone payments.
Zhittya is developing a family of biological drugs to treat diseases which are characterized by diminished blood flow, or perfusion, to specific tissues or organs. The diseases Zhittya’s drugs are intended to treat address a variety of disorders and diseases, including: coronary heart disease, diabetic foot ulcers, stroke recovery, Parkinson’s disease (PD), Alzheimer’s disease, and 14 additional major medical disorders characterized by insufficient blood perfusion.
“Our portfolio of drugs seeks to address diseases which directly cause the suffering and even death of over 50% of all adults,” said Zhittya CEO Daniel C. Montano. “China is the most populous country in the world and has some of the worse heart disease problems as well due to smoking, obesity and pollution issues. This agreement with Regenerative Medicine of China is a major step forward to treating heart disease in China, and we believe we are on the path to a number of other major medical breakthroughs to address even more diseases caused by a lack of blood perfusion.”
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dan@zhittyamedicine.com
zhittya@gatewayir.com