Arthrosi Therapeutics, Inc. today announced a joint venture in Guangzhou China with Ruiao Biopharmaceutical Technology Co., Ltd. (“a subsidiary of  ApicHope  Phamaceutical”) to form Guangzhou Ruianbo Pharmaceutical Technology Co., Ltd.

The joint venture will be responsible for the development of AR882 in the greater China area (Mainland China, Hong Kong, Macao, and Taiwan) while Arthrosi Therapeutics, Inc. continues to lead the global development of AR882 in the gout and tophaceous gout population.

In addition, the joint venture will allow Arthrosi to enter the precision medicine oncology therapeutic area by moving AR035, a potent EGFR exon 20 inhibitor targeting non-small cell lung cancer, into IND-enabling stage.

“We are enthusiastic about this opportunity to bring two drug development programs to the China market while collaborating with a leading Chinese pharmaceutical company with strong research, marketing, and sales capabilities. Partnering with ApicHope will accelerate the development of our two groundbreaking drugs in Western countries and in Asia,” said Litain Yeh, PhD, CEO of Arthrosi.

The registered joint venture is anticipated to result in a $34.3 million investment for development in the greater China area, and another $25 million to participate in Arthrosi Therapeutics Series-C equity financing.

“Through this outbound investment and the establishment of a joint venture in China, we will further enrich the company’s product pipeline, provide access to the global market rights of the product, and accelerate the company’s innovative drug portfolio in the field of innovative drugs,” said Hanxiong Li, an  Executive from ApicHope.