OCON Healthcare is developing innovative women’s health solutions, inspired by women’s anatomy, that are specifically designed to be safe, comfortable, easily usable, and highly effective. Moving away from harmful oral formulations and debilitating hospital procedures, the company has developed a next-generation drug delivery platform the IUB Ballerine, IUB SEAD and IUB PRIMA to promote women’s uterine health safely and effectively.
To further international expansion the Israeli femtech company is now teaming up with BioGenuine, a Chinese pharma company active in the field of women’s health, to take its products to market in China and Southeast Asia.
According to a press release, “OCON will receive an immediate payment of $ 1.3 million in addition to the following milestones: 1. The Chinese company will pay $ 1 million after receiving regulatory approval in China for each of the products (excluding Hong Kong, Macao and Taiwan). 2. The Chinese company will pay $ 1 million for the launch of each new product based on OCON’s technology and addressing additional medical indications (excluding Hong Kong, Macao and Taiwan).
The companies have agreed that OCON will receive royalties amounting to 7% of net product sales in China, Hong Kong, Macau, Vietnam, Cambodia, Myanmar, Laos, Thailand, Malaysia, Singapore, the Philippines and Indonesia. After a period of 12 years or the expiration of the patents in one of the territories, the royalty rate that OCON will receive will drop to 3.5%.”
