Ultrasound imaging technology developer Targeson has signed a deal with a Chinese pharmaceutical company giving the firm rights to sell Targeson's Imagent product in China.
Imagent will be developed and registered for sale in China for all ultrasound indications, following approval by the country's State Food and Drug Administration (SFDA). Targeson owns an approved new drug application (NDA) for Imagent for a cardiovascular indication, but the product is not currently marketed in the U.S.
Targeson will provide technology transfer, training, and support to enable the manufacture of Imagent in a new facility in China. Under the terms of the agreement, Targeson will receive undisclosed license fees, milestone payments, and royalties.
