Vitruvias Therapeutics Inc. Enters into a Semi-Solid (Topical) Licensing Agreement with Hong Kong-Based Bright FutureThe Associated Press
AUBURN, Ala. & HONG KONG--(BUSINESS WIRE)--Feb 11, 2019--Vitruvias Therapeutics Inc., an Auburn, Alabama-based finished-dose generic drug company, has announced it has entered into a collaborative development agreement with a Hong Kong-based pharmaceutical company, Bright Future Pharmaceutical Lab Ltd, to develop a portfolio of semi-solids to be marketed in the United States and China. U.S. distribution will be handled by Vitruvias and Bright Future will be responsible for China and other agreed upon Asian territories. The products will be manufactured by Bright Future’s newly constructed unit at its Hong Kong site specifically designed for producing products in regulated markets.
“We are elated to have found a partner with the resources, rich history of success in the complex Chinese markets, and philosophical belief system that matches our own,” said Carl Whatley, Chairman and CEO of Vitruvias. “Bright Future has proven themselves to be an entrepreneurially-driven company with regards to their desire to become a global player in the world of dermatology, and we are very fortunate to have found such a partner.” With their product development expertise, manufacturing sophistication and the ability to reach both large and small markets in China, Bright Future’s dermatology portfolio is currently the most widely prescribed brand by Chinese dermatologists.
The Founder and Chairman of the Bright Future Group, Mr. Chan Chak Yeung, said, “We are looking forward to working with the Vitruvias team to achieve our mutual goals. Their experience in the U.S. will help us implement our next objective of attaining an international presence in the field of dermatology. We also hope to work with Vitruvias to leverage our strengths in the production of other dosage forms as we pursue a broader collaboration.”
About Vitruvias Therapeutics
Vitruvias Therapeutics is a generic pharmaceutical company which utilizes domestic and international partnerships to develop, manufacture, and market generic products. Founded in the southern U.S. in 2013, the company’s primary focus is on products in the generic sterile injectable market, semi-solid market, and selected high-value oral solids. The Company currently markets several generic products in the U.S. The company received its first approval in September 2017 and anticipates several additional ANDA applications will be filed during 2019. www.vitruvias.com
About Bright Future
Headquartered in Hong Kong, Bright Future Group is a leading pharmaceutical company committed to developing affordable and reliable generic medical solutions since 1993. Today, the company is the largest PIC/S GMP certified pharmaceutical manufacturer in Hong Kong. With years of development, it has also established subsidiary plants in Hong Kong, Mainland China, the USA and Germany. Pursuing its long-term corporate vision, 7,000 employees dedicate themselves to the research and development, manufacturing and commercialization of generic medicines, health supplements and daily necessities worldwide. It focuses on the treatment of disorders for patients in the areas of dermatology, orthopedics, respiratory, pediatrics, geriatric and gynecology. Bright Future Group has strong international R&D teams in Hong Kong, New York, as well as Haikou and Suzhou in China to support our network. The company strives to fulfill their commitment, continuing to expand their product portfolio to make a significant contribution locally and globally. www.brightfuture.com.hk
View source version on businesswire.com:https://www.businesswire.com/news/home/20190211005049/en/
CONTACT: Carl Whatley
Chairman & CEO
Vitruvias Therapeutics Inc.
Phone +1 (334) 329-5601
firstname.lastname@example.orgMaggie Lau Wai Ching
Corporate Communications Manager
Bright Future Group
Phone +852 2211 2447
KEYWORD: UNITED STATES ASIA PACIFIC NORTH AMERICA CHINA ALABAMA HONG KONG
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL OTHER HEALTH
SOURCE: Vitruvias Therapeutics Inc.
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PUB: 02/11/2019 06:00 AM/DISC: 02/11/2019 06:00 AM