STOCKHOLM and HANGZHOU, China, Aug 18, 2017 -- Medivir AB(Nasdaq stockholm: MVIR) and Ascletis today announce that Ascletis has licensed the exclusive rights to develop, manufacture and commercialize Medivir's nucleotide polymerase inhibitor for hepatitis C, MIV-802 (ascletis code:ASC21), in Greater China.

Under the terms of the agreement, Medivir received an upfront payment, and is entitled to receive milestones based on successful development through commercial launch and tiered royalties on net sales of MIV-802 containing products. Ascletis will fund clinical development, manufacturing and commercialization of MIV-802 in Greater China.

"We are pleased to have Ascletis as a partner with their track record in advancing development of pharmaceuticals in Greater China and their portfolio of antivirals with which to create a combination drug against hepatitis C" said Christine Lind, CEO of Medivir.

"Ascletis has filed an NDA in China for its first HCV NS3/4A medicine, danoprevir, at the end of 2016 and has an HCV NS5A inhibitor in the late stage clinical development. By acquiring MIV-802, a nucleotide NS5B inhibitor, Asceltis is committed to treating, eventually eliminating, hepatitis C in greater China with its multiple leading antiviral combinations including MIV-802," said Dr. Jinzi J. Wu, CEO of Ascletis.