Biopharmaceutical company Trevena, Inc. has announced the receipt of a $3 million milestone payment from its partner, Jiangsu Nhwa Pharmaceutical Co. Ltd., for the Chinese approval of OLINVYK, a medicine for patients with central nervous system disorders. Jiangsu Nhwa holds an exclusive license agreement to develop, manufacture, and commercialize OLINVYK in China. Trevena also reaffirmed its expected receipt of $15 million in non-dilutive financing from R-Bridge upon the first commercial sale of OLINVYK in China, anticipated to occur in the third quarter of 3023.
Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, today announced that it has received a $3 million milestone payment from its partner in China for the Chinese approval of OLINVYK. Jiangsu Nhwa Pharmaceutical Co. Ltd. (Nhwa) holds an exclusive license agreement to develop, manufacture, and commercialize OLINVYK in China.
“We look forward to continuing to work closely to support Nhwa in their commercial efforts. They have already begun commercial efforts in China and we are excited to see OLINVYK made available in such an important market,” said Carrie Bourdow, President and CEO of Trevena, Inc.
The Company also reaffirmed the expected receipt of $15 million in non-dilutive financing from R-Bridge upon first commercial sale of OLINVYK in China, which Nhwa believes will occur in 3Q 3023.
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Source: BioSpace
