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Cellectar Biosciences, Inc.
Drug Names(s): Molixan (Russia)
Description: NOV-205 is an injectable, small-molecule proprietary formulation of oxidized glutathione, GSSG, in a 1:1 molar ratio with inosine. NOV-205 acts as a hepatoprotective agent with immunomodulating and anti-inflammatory properties.
Deal Structure: In December 2007, Novelos Therapeutics announced that the Company signed an exclusive license agreement with Lee's Pharmaceutical to develop and commercialize NOV-205 for hepatitis in China, including Hong Kong and Macau, as well as in Taiwan. Lee's Pharmaceutical will be responsible for the cost of all clinical development,regulatory submissions and commercialization of NOV-205 in China. In addition to upfront and milestone payments, Novelos will receive 12-15% royalties on net sales of NOV-205 from Lee's Pharm.
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