(Yicai) Sept. 1 -- Huadong Medicine, one of China's most diversified makers of dermatosis medicines, will purchase exclusive rights for a first-in-class skin disease treatment developed by UK firm MC2 Therapeutics in China.

Huadong's unit Hangzhou Zhongmei Huadong Pharmaceutical will pay USD16 million down payment and up to USD36 million milestone payment for the clinical development, new drug registration, and commercialization exclusive rights and interests of Wynzora Cream in the Chinese mainland, Hong Kong, Macao, and Taiwan, the Hangzhou-based drugmaker announced yesterday.

After Wynzora hits the market, MC2 Therapeutics will receive a commission payment equal to a double-digit percentage of the drug's net sales amount, Huadong noted.

Wynzora is a cream used on the skin to treat mild to moderate psoriasis vulgaris, including scalp psoriasis in adults. It showed evident clinical effectivity and good safety and tolerance in phase three clinical trials in the US and Europe, Huadong added. It hit the US and European markets in 2020 and 2021, respectively.

Guildford-based MC2 Therapeutics is a subsidiary of Denmark's MC2 Therapeutics specialized in the development of innovative drugs against autoimmune skin diseases and chronic inflammatory skin diseases, Huadong said.

Earlier this month, Huadong acquired the exclusive regional rights for two skincare products developed by US dermatology firm Arcutis Biopharmaceutical for USD100 million to improve its competitiveness with a wider product portfolio.

Huadong's shares [SHE: 000963] were trading up 0.6 percent at CNY38.22 (USD5.26) in Shenzhen as of today's lunch break.

Editor: Futura Costaglione