Swiss drug maker Roche Holding AG said Monday it had teamed up with emerging biotech firm Ascletis to develop and commercialize its investigational drug danoprevir in China for the treatment of the hepatitis C virus.

Under the agreement, Ascletis will fund, develop and manufacture danoprevir in the Chinese mainland, Taiwan, Hong Kong and Macao.

The company will also be responsible for regulatory affairs in these regions.

Ascletis will receive payments from Roche upon reaching certain development and commercial milestones.

Hepatitis C, an infection of the liver, affects some 180 million people worldwide. That includes 10 million patients annually in China, and there are no direct antiviral agents currently marketed to treat the disease, Ascletis said.

Roche bought the full rights to develop and commercialize danoprevir from InterMune in 2010 for $175 million.

Agencies - Global Times