Immtech licenses drugs to Beijing Pharma

The USA's Immtech has signed a memorandum of understanding confirming its interest in exploring the development of a strategic alliance with  Chinese, state-owned company Beijing Pharmaceutical.

The strategic alliance would give Beijing Pharma rights to develop drugs  from Immtech's library of compounds. Many of these agents have been  designed to target high-prevalence diseases such as hepatitis C and  malaria. The partnership would also allow Beijing Pharma to leverage  Immtech's network of international relationships to gain access to  patented technologies, as well as advantageous sales and distribution  channels in the USA, the Middle East, Africa, Europe and other  locations.

"We are excited about the possibility of entering into this strategic  alliance. Beijing Pharma has substantial resources and an excellent  track record," said Eric Sorkin, chief executive of Immtech. "They are  an ideal partner to draw on Immtech's extensive portfolio of compounds  as well as our strong international network of collaborators in drug  development and other business areas," he added.