Zhittya Genesis Medicine Signs $150 Million Biopharmaceutical Marketing Partnership Agreement with Regenerative Medicine of China
LAS VEGAS, Jan. 09, 2020 (GLOBE NEWSWIRE) -- 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.
According to the American Heart Association’s 2019 “Statistics at a Glance”, heart disease is responsible for the death of approximately one out of three U.S. adults. In a U.S. Food and Drug Administration (FDA) clinical trial, Zhittya’s heart-specific drug treatment demonstrated a successful triggering of new blood vessel growth in a diseased heart. According to a 2018 report in the journal, Nature, there are an estimated 40 million people who suffer from heart disorders in China alone, 80% of which suffer from a particularly notorious form called ‘small vessel disease,’ a disease that only Zhittya’s drug has been able to address; the standard forms of treatment for coronary artery disease, including bypass and stenting procedures, can only be performed on larger arteries.
“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.”
Dr. Jack Jacobs, President of Zhittya Genesis Medicine, added, “Our drug currently being developed to treat Parkinson’s disease has demonstrated encouraging results with impressive animal treatment data supporting our research efforts. This drug has the potential to be a ‘disease modifying’ agent, as it combats the root cause of Parkinson’s disease in patients. According to a 2019 report in the journal Translational Neurodegeneration, it is estimated that by 2030, Chinese PD patients will increase to over 5 million, accounting for half of the worldwide PD patients. We believe our drug can have a tremendous impact in this region.”
About Zhittya Genesis MedicineZhittya Genesis Medicine, Inc. is advancing a group of drugs which trigger the human body’s natural regeneration process. Our medicine initiates a biological response in the human body referred to as “therapeutic angiogenesis,” which will only occur in diseased tissues that become ischemic due to a lack of blood flow. In those areas with insufficient blood flow, the drug stimulates growth of new blood vessels, providing nourishment and removing metabolic waste products, thereby re-establishing normal cellular functions. Heart disease, stroke, peripheral artery disease (PAD) and diabetic foot ulcers are just some of the disorders the drugs can treat. Currently, over 75 human diseases are known to be caused by lack of blood flow to a tissue or organ. The Company’s management has been working to advance its proprietary medicines for over 21 years and has expended in excess of $140 million USD to date in support of these efforts. To learn more, please visit zhittyaregenerativemedicine.com
About Regenerative Medicine of ChinaRegenerative Medicine of China, Inc. owns the 30-year exclusive rights to market and sell all drugs developed by Zhittya for the territories of China, Taiwan, Hong Kong and Macao. These areas encompass a population of over 1.4 billion people. With the largest population in the world, China also has some of the world’s highest rates of diabetes, heart disease, strokes and other diseases brought on by vascular dysfunction.
Daniel C. Montano, CEOZhittya Genesis Medicine, Inc.702-790-9980 email@example.com
Investor Relations Contact:
Matt Glover and Tom ColtonGateway Investor Relations949-574-3860 firstname.lastname@example.org