AICHI, Japan--(BUSINESS WIRE)--RaQualia Pharma Inc. (RaQualia)(JASDAQ:4579)(ISIN:JP3967150008) today announced the signing of a license agreement with CJ CheilJedang Co. (CJ), granting CJ exclusive rights to develop, manufacture and commercialize RaQualia's 5-HT4 Partial Agonist (RQ-00000010) in Korea, China, Taiwan, India and Southeast Asia.
Under the terms of the agreement, RaQualia will receive an upfront payment from CJ and is eligible to receive development milestones and royalties on sales of products commercialized under the license.
RaQualia and CJ signed a Memorandum of Understanding in June 2010 to establish a strategic alliance in innovative gastrointestinal therapies. This is the 2nd license agreement between RaQualia and CJ following the license agreement for Acid Pump Antagonist (RQ-00000004) in September 2010.
RQ-00000010 is a highly-selective serotonin receptor subtype 5HT4 partial-agonist that promotes the motility of the gastrointestinal (GI) tract. RQ-00000010 is in pre-clinical research and has exhibited potent pharmacological effects on GI motility and excellent safety profiles. RQ-00000010 has the potential to be a significant new therapeutic option for the treatment of Functional Dyspepsia (FD) and other diseases related to GI motility disorders, including Chronic Constipation.
Functional Dyspepsia (FD) is a highly-prevalent gastrointestinal disorder affecting over 200 million people worldwide. Its symptoms include chronic or recurrent pain and discomfort centered in the upper abdomen, all of which can have a significant impact on quality of life. An alternative therapy providing effective symptom control is needed, as currently available treatments are either ineffective or inadequate for many patients.
About Chronic Constipation
Chronic Constipation is a common disorder of the bowel affecting over 80 million people worldwide. Its symptoms include infrequent passage of stool, hardness of stool, or a feeling of incomplete evacuation. An alternative therapy offering greater benefit is needed, as current treatments are ineffective in a substantial number of patients.
RaQualia Pharma Inc. engages in the discovery, development and marketing of clinical and pre-clinical drug candidates for highly-unmet medical needs including Pain, Inflammation, Cancer, Auto-immune, Alzheimer's, and GI Diseases. RaQualia's vision is to bring people hope, health and happiness with new medicines. For further information, please visit us at www.raqualia.com.
About CJ CheilJedang Co
CJ CheilJedang belongs to the CJ group which is engaged in food, homeshopping, logistics, entertainment business, bio and pharmaceutical industry in South Korea. The vision of CJ CheilJedang is to be a global food & bio company with capable people, technology and speed. For this, CJ CheilJedang sets up the mission that to raise and secure best talented people, to take new dynamic force for growth with bio/food technology, to lead the market of health/convenience with deep understanding of customers and to make young corporate culture whose spirit is challengeable and innovative. For further information, please visit us at www.cj.co.kr.