GlycoMar Ltd of Oban and Scottish Biomedical Ltd of Glasgow, agreed options with the Chinese pharmaceutical company Asiapharm Group Ltd, to assess and potentially license their leading products.
The GlycoMar products have potential for the treatment of cardiovascular disease, while those of Scottish Biomedical could treat psychotic disorders such as schizophrenia.
Stephen Hammond, founder and CEO of Scottish Biomedical said, “We are pleased to be working with Asiapharm in developing new more effective treatments for schizophrenia.”
Under the terms of the deal, Asiapharm will carry out trials and further development of the products. If these are successful, Asiapharm will licence the products for sale in China.