According to the agreement, the China-based companies can co-promote drugs or medical devices for the treatment of dermatological disorders, including existing products. The 3-year promotion agreement, with an option to renew for 2 more years, enables Uni-Bio Science to co-market particular products in hospitals and qualified institutions, drug stores and retail channels. Uni-Bio Science will support Luqa with market access in designated territories, including provincial and national reimbursement expansion of the products indicated under the collaboration.
“Promptly following our strategic alliance with China Resources Zizhu forged in June, I am very excited to announce this strategic partnership with Luqa, which not only reinforces our partnership model, but also enables us to accelerate the penetration of drugs or medical devices of our current product lines for dermatological treatment – a major therapeutic area of the Group – in Mainland China,” Uni-Bio Science executive director Kingsley Leung said in prepared remarks. “Luqa has a very interesting product portfolio in dermatology, especially in the aesthetics space. A number of these products can be co-promoted with our GeneTime to provide a comprehensive solution for our patients in terms of wound and scar management. Leveraging our success with GeneTime in China, we are confident of effectively expanding the footprint of Luqa’s products in the market. In this way we can create a win-win situation for both parties and cement our leadership position in the dermatology market.”
“This collaboration enables us to work together to bring forward innovative medical solutions demonstrated to improve outcomes and quality of life to patients in China,” Luqa CEO Robert Braithwaite added. “Uni-Bio Science has demonstrated over the years the strength of their commercial teams in accessing and educating physicians. We believe this co-promotion agreement will drive value for Luqa and reinforce our market leadership position in innovative skin solutions for medical and aesthetic dermatology. This cooperation is synergistic with our group’s existing commercial efforts for our products in the hospital market and will enable us to further strengthen our commercial capabilities as we prepare to market additional medical and aesthetic products.”