Orion Enters into Exclusive Agreement with Jemincare for Novel Non-Opioid Drug Candidate for the Treatment of Pain

MAY 6, 2022 at 9:00 a.m. EEST

Orion Enters into Exclusive Agreement with Jemincare for Novel Non-Opioid Drug Candidate for the Treatment of Pain

Orion Corporation entered into an agreement with chinese jemin care, through which Orion will receive exclusive worldwide development and marketing rights, excluding the Greater China region (Mainland China, Hong Kong, Macau and Taiwan), for a powerful blocker and selective NaV 1.8 for the treatment of acute and chronic pain. Orion will also receive ownership of certain key patent applications relating to the compound in its own territory.

Under the agreement, Orion has the right to develop and commercialize the asset in its territory. Orion will be fully responsible for its own development and commercialization costs. In addition, Orion will manufacture the products, including the active pharmaceutical ingredient, for its markets.

Under the terms of the agreement, Orion will pay Jemincare an upfront payment of €15 million, in addition to which Jemincare will be entitled, after achieving certain development, marketing and sales targets, to receive payments from step, which can be important. Additionally, Jemincare is eligible to receive a tiered royalty of 8% to 15% on future sales in the Orion territory.

“We are excited about this agreement and look forward to bringing this compound into clinical studies later this year. Pain is one of the most commonly reported reasons for a patient to see a healthcare provider and it generates a significant societal burden in terms of healthcare utilization and lost productivity. There is a high unmet need for new, non-addictive treatment options with improved efficacy and safety profiles. The NaV 1.8 channel is a known pain transmission pathway and therefore a promising target for novel pain treatments,” said Professor, MD, Ph.D. Outi VaaralaSenior Vice President of Research and Development at Orion.

“JMKX000623 is a potent and selective Nav1.8 blocker independently developed by Jemincare and we received IND clearance in China in March 2022. We are excited to partner with Orion Corporation to bring this promising therapy to benefit patients in the rest of the world. This is our second breakthrough therapy in global partnership. We look forward to working closely with Orion, a partner with a wealth of experience in developing neurology and pain therapies, to bring this compound to clinical trials,” said Mr. Hong LiangChairman of the Jemincare Pharmaceutical Group.

On NaV 1.8 as a target for pain treatment

Electrical activation of nociceptive sensory neurons is an essential physiological process for the transmission of pain where information is relayed from peripheral tissues to the central nervous system and the brain where pain perception takes place. NaV 1.8 is one of the pivotal sodium channel subtypes modulating the excitability of pain fibers. The fundamental role NaV 1.8 plays in pain transmission has been demonstrated in preclinical studies and genetically and pharmacologically validated in acute and chronic pain clinical trials of a selective NaV 1.8 blocking agent. Currently, no drug selectively targeting NaV 1.8 is yet on the market.

On Jemincare

Jiangxi Jemincare Group Co., Ltd. is a leading pharmaceutical company in China. Founded in 1999, the Jemincare group has more than 10,000 employees dedicated to the development, manufacture and marketing of therapeutic products in its strategic fields, including oncology, nephrology, cerebro-cardiovascular, anti-infectives , analgesics, respiratory and paediatrics. Shanghai Jemincare Pharmaceutical Co., Ltd is the R&D center of Jiangxi Jemincare Group Co., Ltd. Shanghai Jemincare has developed into a strong team with around 500 scientists consisting of 3 innovation centers, Small Molecule Innovative Center, Biologics Innovation Center and Technology Innovation Center. The Nav1.8 program was developed by the Small Molecule Innovation Center, which has more than 10 programs entering the IND or IND-enabled phase and 3 programs entering the clinical phase. For more information, visit www.jemincare.com

Contact person:
Tuukka Hirvonen, Investor Relations, Orion Corporation
Phone. +358 10 426 2721

Orion Corporation
Orionintie 1A, FI-02200 Espoo, Finland

Orion is a globally operating Finnish pharmaceutical company – a wellness builder. Orion develops, manufactures and markets human and veterinary pharmaceutical products and active pharmaceutical ingredients. The company is constantly developing new drugs and treatment methods. The main therapeutic areas of Orion’s pharmaceutical R&D are neurological disorders, oncology and respiratory diseases for which Orion develops inhaled pulmonary medicines. Orion’s net sales in 2021 were 1,041 million euros and the company had approximately 3,350 employees at the end of the year. Orion A and B shares are listed on Nasdaq Helsinki.

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