27 October 2005
Beijing Med-Pharm Licence
Upfront and milestone payments
BrachySil TM entry point for China
Global bio-nanotech company pSivida Limited (ASX:PSD, NASDAQ:PSDV, Xetra:PSI) is pleased to
announce that it has signed a Licence with Beijing Med-Pharm Corporation (BJGP:PK) for the clinical
development, marketing and distribution of pSivida's lead product, BrachySil TM , in China.
Under the terms of the Licence, pSivida will manufacture BrachySil T M and Beijing Med-Pharm will be
responsible for clinical development, securing regulatory approval, marketing and distribution in China. pSivida
will retain manufacturing rights for BrachySil T M under the Licence. It is a condition of the licence that a
Manufacturing and Supply Agreement for pSivida to supply BrachySil TM to Beijing Med-Pharm is concluded
within 90 days.
The Licence includes upfront and milestone payments in excess of US$2 million and royalties ranging up to 30%,
depending upon level of sales, payable to pSivida by Beijing Med-Pharm.
Beijing Med-Pharm is a US-based company with Chinese subsidiaries that offers an end-to-end solution to
primarily Western pharmaceutical companies who wish to sell their products into the Chinese marketplace. In
December 2004, Beijing Med-Pharm initiated the first ever purchase of a Chinese pharmaceutical distribution
company by a foreign entity after it signed an agreement to purchase Beijing Wanwei Pharmaceutical Ltd. , a
pharmaceutical distributor covering the bulk of Beijing's hospitals.
BrachySil TM (32-P BioSilicon) will enter a Phase IIb dose-profiling study shortly as a potential new treatment
for primary liver cancer (also called hepatocellular carcinoma or HCC). China has the highest incidence of HCC
in the world, with over 345,000 estimated new cases per annum (Globocan), representing 55% of total
worldwide cases. Given the clinical proof of principle already established for BrachySil TM , focused programmes
are being prepared to exploit its broader