Lee's Pharmaceutical Acquires Staccato One Breath Technology to Expand Pipeline and Enhance Partnership with UCB

Lee's Pharmaceutical Holdings Limited Takes a Major Step Forward

In a significant announcement, Lee's Pharmaceutical Holdings Limited has acquired the Staccato® One Breath Technology® and its related assets from Alexza Pharmaceuticals, Inc. This acquisition, executed by Nova Pneuma Inc., Lee's wholly owned subsidiary in Delaware, marks a pivotal moment in the company's strategic growth plan. Through this deal, Lee's Pharmaceutical gains full ownership of the proprietary Staccato® technology platform, which is known for its broad therapeutic potential in drug delivery systems.

Strengthening the Pipeline

The acquisition of the Staccato® OBT® not only reinforces Lee's existing pipeline of products but also enhances its capabilities in aerosolized inhalation therapies. This technology is credited with rapid onset of therapeutic effects akin to intravenous injections, yet administered non-invasively. Such characteristics position it ideally for treating acute conditions that necessitate quick relief, addressing critical medical needs.

Furthermore, this new ownership will eliminate ongoing licensing payments to Alexza for the commercialization of Staccato® based medicines, which can translate into significant cost savings. Lee's Pharmaceutical has been advancing its clinical development across several stages, including medicines aimed at treating cancer-related breakthrough pain and conditions like acute agitation related to schizophrenia. Upon completion of this acquisition, two promising central nervous system (CNS) assets in the pipeline targeting Parkinson's disease and Cyclic Vomiting Syndrome (CVS) will also be integrated into the company's growing portfolio.

Global Partnership with UCB

A key highlight of this acquisition is the rights obtained to be the licensor and manufacturer of Staccato® alprazolam in partnership with UCB, a notable player in the biopharmaceutical landscape. This relation enhances Lee's Pharmaceutical’s global development capabilities, particularly as Staccato® alprazolam is currently undergoing Phase 3 clinical trials. This partnership paves the way for Lee’s Pharm to explore milestone payments that could total over $60 million, alongside royalties from global sales, making it a financially strategic move.

A Vision for Future Innovation

Dr. Benjamin Li, the founder and director of Lee's Pharmaceutical Holdings Limited, stated that acquiring the Staccato® OBT® platform is transformative and underscores their commitment to innovation in inhalation therapies that target CNS and neurodegenerative disorders. The goal is to enhance the company's R&D capabilities and forged new revenue streams through current and future partnerships, especially with UCB.

Wanee Lee, the managing director, expressed optimism regarding the immediate benefits and long-term growth prospects associated with this acquisition. By leveraging the strengths of both companies, they aim to address unmet medical needs while ensuring efficient production of meaningful therapies.

Dr. Wolfgang Schmidt, SVP of Manufacturing and Operations at NPI, emphasized the motivation and excitement within the team to continue these collaborations, focusing on delivering transformative treatments. This collaborative effort not only aims to further commercialize Staccato® based medicines but also aspires to create global health solutions where patients have significant unmet needs.

About Lee's Pharmaceutical Holdings Limited

With more than three decades of experience in the pharmaceutical industry, Lee's Pharmaceutical is well-established in China, equipped with extensive infrastructures in drug development, clinical trials, and marketing. The company boasts numerous partnerships with international firms and a diversified product portfolio across various therapeutic areas, including oncology and rare diseases.

The acquisition of the Staccato® One Breath Technology® aligns with Lee's strategic vision of aspiring to improve patient lives through innovative scientific advancements. As they navigate this transformative phase, the focus will be on harnessing the benefits of both existing and new products that stem from this acquisition, aiming for therapeutic advancements in the global market.