TPP Healthcare Successfully Implements Legacy Healthcare into China
TPP Healthcare, a strategic advisory firm specializing in cross-border transactions between Western and Chinese healthcare companies, announces another successful Chinese expansion – partnering Legacy Healthcare, a Swiss-based R&D firm, with Maxhealth, a Chinese commercial healthcare firm.
Legacy Healthcare is a biopharma player developing innovative drugs in oncology supportive care and dermatology. The company has one product on the market, two in clinical development (Phase II and Phase III), and one in preclinical stage. Its anti-hair loss patented cosmetic product (CG 210) was launched in Europe by Sanofi, in South East Asia by Abbott and more recently in the US, Latin America, Russia, India and other markets by Galderma (Nestlé Skin Health).
Through TPP, Legacy Healthcare is now partnered with Maxhealth to commercialize CG 210 in Mainland China and Macao, a key market where CG 210 was not previously available. Beyond the distribution agreement, Maxhealth will take an equity position in Legacy Healthcare.
TPP Healthcare advised Legacy Healthcare in a four-tier process: Research (identifying and filtering), Outreach, Deal Structure, and Negotiation. The TPP team assisted Legacy Healthcare to interface with numerous Chinese firms – arranging confidentiality agreements, exchanging diligence documentation, and negotiating term sheets.
“Adverse drug reactions are now among the top five leading cause of death, with costs more than $170bn per year. At Legacy Healthcare, our objective is to develop treatments without the current burden of side-effects, especially for chronic conditions. Botanical drugs, an emerging class of drugs, might be the answer. Derived from botanical extracts, provided they are known to be safe for human use, botanical drugs have the potential for faster development, lower R&D investment, and are more appropriate for longer treatment periods since they carry less-to-no side effects compared to synthetic drug treatments. Additionally, our botanical treatments provide the same benefits as synthetic drugs – such as patent protection and same approval type,” states Saad Harti, CEO and Founder of Legacy Healthcare.
Harti continues, “For China, it was important for us to partner with a local, deep rooted company. TPP was instrumental in identifying the right partner in China. We could not have had a more professional team on our side and look forward to continuing our collaboration in the future.”
With an experienced team of well-connected industry veterans from all over the world, and the largest network in China’s healthcare industry, TPP Healthcare is the market expert with a top-notch network to execute and support cross-border transactions involving pharmaceuticals, medical devices, and diagnostics.
“Our goal is to introduce forward-thinking Chinese companies with the opportunity to invest in innovative healthcare companies and license their groundbreaking products and technologies in the Chinese market. China is the second largest pharma market in the world and due to its expanding aging population, its potential for growth is ensured. Chinese investors are looking for good investment opportunities abroad – now,” states Tony Chu, Managing Partner at TPP Healthcare. “At TPP, we take pride in knowing that our experience and in-depth understanding of China’s market helps our clients successfully secure fruitful partners.”