Medivir and Daewoong Pharmaceuticals have abandoned the development of lagociclovir valactate (MIV-210), a hepatitis B virus (HBV) compound. Medivir licensed the HBV polymerase inhibitor drug to its partner in March 2010.
Daewoong assumed the exclusive clinical development right from Hainan Noken Pharmaceutical Industry of China, which had been retained as a distribution partner for MIV-210 in the country. According to Medivir, MIV-210 has demonstrated competitive antiviral activity but, like other drugs in this class, does not completely eradicate HBV.
Under the original agreement, Daewoong was responsible for R&D and had marketing rights in South Korea, Japan, and China (including Taiwan, Macao, and Hong Kong). Medivir was entitled to upfront and milestone payments and royalties on sales, and retained the exclusive marketing rights in the rest of the world.
Last month, Medivir reported interim results of its key pipeline asset simeprevir, a protease inhibitor in late Phase III development for hepatitis C that is being developed in collaboration with Janssen R&D Ireland.