Netech Sighs Option Agreement with Nihon Pharmaceutical and Yaizu
Suisankagaku Industry for the use of photo cross-linkable chitosan derivative as
surgical aid in endoscopic surgery
Kawasaki, Japan – November 9th, 2009 – Netech Inc., a privately held
biopharmaceutical company, today announced that Nihon Pharmaceutical Co., Ltd,
Yaizu Suisankagaku Industry Co., Ltd. and Netech have signed an agreement for
the use of novel chitosan derivative as a surgical aid in endoscopic
surgery.
Under this agreement, Nihon Pharmaceutical receives an option for an exclusive royalty-bearing license under Netech's intellectual property for the development and commercialization in Japan with predetermined option and milestone fees. The agreement also includes a right to an exclusive license in Japan under pre-agreed conditions.
"This novel chitosan derivative is biomaterial implicated across a broad
range of products, including hemostat, surgical sealant and wound dressing. One
of the most exciting potential application is the surgical aid in endoscopic
surgery like endoscopic mucosal recession (EMR) and Endoscopic Submucosal
Dissection (ESD),” said Hirofumi Yura, Ph.D, president and chief executive
officer of Netech. "This transaction exemplifies the advantages of the chitosan
derivative as a biomaterial for next generation, and we will promote
partnerships in other clinical fields."
About the novel chitosan derivative
Chitosan is a naturally occurring polysaccharide which is easily
extracted from Crustaceans such as crabs and lobsters. So far medical use of
chitosan has been attempted, but acidity of aqueous chitosan, pH 3 or less,
prevented to spread. Netech has developed chitosan derivative which is soluble
under neutral conditions.
About Netech
Netech is a biotechnology company focused on the discovery, development
and commercialization of novel carbohydrates chemically manipulated and
functionalized. The company has also fetal cell separation technology from
maternal blood for non-invasive prenatal diagnosis.
About Nihon Pharmaceutical
Nihon Pharmaceutical Co., Ltd., subsidiary of Takeda Pharmaceutical Co.,
Ltd., is a pharmaceutical company in Japan. Main products are therapeutic plasma
protein preparations and infusion solutions.
About Yaizu Suisankagaku Industry
Yaizu Suisankagaku Industry Co.,Ltd. (TSE:2812), located in Shizuoka,
Japan, engages in the manufacture and sale of natural seasonings, functional
foods, and foods of other kinds in Japan.
Media Contact Netech Inc.
http://www.netech.jp/en/index.html