SciClone Pharma inks rights to Vibativ antibiotic in China and select adjacent territories

• SciClone Pharmaceuticals (SCLN -0.1%) enters into a development and commercialization agreement through an affiliate of Theravance Biopharma (TBPH +1.3%) granting SciClone exclusive rights to Vibativ (telavancin) in China, Hong Kong, Macau, Taiwan and Vietnam.
• Vibativ, a once-daily injectable lipoglycopeptide antibiotic, will be initially developed for the treatment of hospital-acquired bacterial pneumonia and ventilator-assisted bacterial pneumonia. Additional indications may include complicated skin and skin structure infections and bacteremia.
• Under the terms of the agreement, Theravance will be eligible to receive up to $6M in upfront and regulatory-based milestone payments. SciClone will be responsible for all development and commercial activities in the territories and will purchase the product from Theravance.
• Theravance markets Vibativ in ex-U.S. markets through partners like SciClone.