#China #Hong Kong #UCB #Staccato Technology #Lee's Pharm

Lee's Pharmaceutical Holdings Limited Acquires Staccato One Breath Technology

In a significant move to bolster its product offerings and strategic partnerships, Lee’s Pharmaceutical Holdings Limited, through its subsidiary Nova Pneuma Inc. (NPI), announced the acquisition of Staccato® One Breath Technology® and its related assets from Alexza Pharmaceuticals. This acquisition not only enhances Lee's capabilities in aerosol medication delivery but also expands its existing product pipeline and its collaboration with the global biopharmaceutical company UCB.

Overview of the Acquisition

The acquisition grants Lee’s Pharmaceutical complete ownership of the Staccato OBT technology platform, including its intellectual property, know-how, trademarks, and access to essential manufacturing capabilities. Importantly, it also covers the licensing and production rights for alprazolam Staccato®, a medication currently under clinical evaluation. This strategic initiative aims to enhance Lee's presence in the inhalation medication market, an area that promises significant therapeutic potential.

Enhancing the Product Pipeline

The Staccato platform is recognized for its innovative method of drug delivery, enabling rapid therapeutic effects comparable to intravenous administration without invasive procedures. This acquisition solidifies Lee's position in a market that increasingly demands quick and efficient treatment options. The technology has already been validated in clinical settings with existing products like Adasuve®, approved for acute agitation treatment in patients with schizophrenia or bipolar disorder, and several other promising developmental programs.

Lee’s is expected to benefit from synergies between the Staccato platform and its existing product range, which includes ongoing clinical development for Staccato-based medications targeting cancer-related pain and other CNS disorders such as Parkinson’s disease. The elimination of certain licensing fees owed to Alexza will further enhance Lee's financial performance and operational efficiency.

Strengthening the Partnership with UCB

In addition to acquiring the Staccato platform, Lee's Pharmaceutical secures rights and obligations from an existing global license and manufacturing agreement with UCB. Through this partnership, UCB retains the rights to develop and commercialize the alprazolam Staccato formulation, currently undergoing Phase 3 clinical trials, further cementing the relevance and commercial viability of the Staccato technology. Successful navigation of required clinical and regulatory milestones could lead to potential milestone payments of up to $60.5 million, along with continued royalty income from global sales.

Dr. Benjamin Li, founder and CEO of Lee's Pharmaceutical, articulated the transformative nature of this acquisition, emphasizing its alignment with the company’s commitment to innovation in inhalation treatments focused on CNS disorders. Similarly, Ms. Wanee Lee, General Manager, highlighted the strategic growth and revenue-generating opportunities arising from this transaction.

Future Prospects and Commitment to Innovation

With Staccato OBT now firmly under Lee's Pharmaceutical umbrella, the company is well-positioned to expand its global footprint and continue nurturing its partnership with UCB to deliver critical therapeutic solutions. The acquisition serves not only to drive immediate financial benefits but also as a building block for sustained growth in high-value therapeutic areas.

This pivotal decision marks a new chapter for Lee’s Pharmaceutical, marking its strong commitment to addressing unmet medical needs and enhancing patient outcomes through cutting-edge innovation. As the company prepares to integrate these assets into its operations, the industry watches closely for the developments that will emerge from this acquisition.