Qingdao Primedicine Pharmaceutical Co. Ltd. and Primary Peptides Inc. have signed an exclusive license to develop and commercialize an innovative product for the treatment of heart attack.

Under the terms of the agreement, Primedicine receives exclusive rights to develop and commercialize in China, including the mainland, Hong Kong, Macau and Taiwan while Primary Peptides retains rights in all other markets. Financial terms were not disclosed.

aPrimedicine is pleased to collaborate with Primary Peptides, a world leader in development of novel peptide therapeuticsa, commented Yi Yan, CEO of Primedicine, "This gives Primedicine a valuable opportunity to bring the best Canadian technology to China to improve the lives of millions of heart attack patients."

Dr. Max Cynader, CEO of Primary Peptides said aHeart protection following heart attack represents a large unmet medical need, and this new peptide therapeutic has the potential to become a first-in-class therapeutic. By combing our expertise in drug development and Primedicineas abundant Chinese resources, we can bring this novel peptide therapeutic from bench to bedside at a much faster speeda.

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