Press release
Netech Sighs Option Agreement with Nihon Pharmaceutical and Yaizu Suisankagaku Industry
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 surgeryKawasaki, 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 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
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.
Netech Inc.
1437-25-102, Suenaga, Takatsu-ku, Kawasaki, Kanagawa, Japan 213-0013
Tel +81-44-819-2013
Media Contact Netech Inc.
Takashi Osaka
osaka@netech.jp
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