AffaMed Therapeutics and SIFI S.p.A. announced they have entered into an agreement to establish a joint venture to develop, manufacture and commercialize premium IOLs in the Greater China market, including Mainland China, Taiwan, Macau and Hong Kong.
AffaMed will provide funding for growth, and support the joint venture in clinical development, regulatory affairs and commercial operations, while SIFI will contribute its IP, technical and manufacturing expertise.
Specific terms of the deal were not disclosed.
The Joint Venture will have exclusive rights to SIFI’s range of IOLs, including the premium Mini Well, Mini Well Toric, and Mini Well Proxa lines of extended depth of focus (EDOF) IOL lenses.
With its range of EDOF IOLs expected to be among the most advanced and effective treatment options available to cataract patients in China, the joint venture between AffaMed and SIFI will target the under-served premium market for patients seeking a high level of spectacle independence, while it will also provide quality mono-focal IOL products to help expand access to treatments for the wider population of patients.
“The creation of our Joint Venture with SIFI marks an important milestone in strengthening the ability of AffaMed to reach more patients with the highest quality IOLs,” Dr. Dayao Zhao, CEO of AffaMed, said in a company news release. “Our development and regulatory expertise will enable the partnership to accelerate clinical development and regulatory approval timelines, and advance our mission of bringing high-quality and accessible healthcare products to meet significant unmet patient needs in the Greater China market.”
“We are excited to enter into a strategic partnership with AffaMed to access the Greater China market, a significant milestone in our international expansion program.” said Fabrizio Chines, Chairman and CEO of SIFI. “With its successful track record in forging alliances on innovative technologies in key therapeutic areas, AffaMed represents the partner of choice to bring our innovative solutions for cataract surgery to Chinese patients.”
YAFO Capital (Shanghai) Co. Ltd. acted as financial advisor and DLA Piper as legal and tax advisor on this transaction to SIFI.