Lawrenceville-based pharmaceutical company Celsion Corp. announced today it has signed a memorandum of understanding with China-based Zhejiang Hisun Pharmaceutical Co. Terms were not disclosed.
The agreement is for future development of ThermoDox and other liposomal formulations.
Hisun is one the largest manufacturers of chemotherapy agents globally, including the doxorubicin encapsulated by Celsion's ThermoDox technology. Hisun will invest in completing the technology transfer of its proprietary manufacturing process and the production of registration batches for China. In return, it will be granted a right of first offer for a commercial license for the sale and distribution of ThermoDox in China.