RegeneRx Biopharmaceuticals Inc. announced that GtreeBNT, has entered into a joint venture with YuYang DNU to develop RGN-137 on a global basis for the orphan indication, epidermolysis bullosa (EB). The joint venture between the two companies is Lenus Therapeutics, LLC (Lenus), a GtreeBNT U.S. subsidiary. Gtree will contribute the intellectual property rights and all development results for RGN-137 and YuYang will invest about $17.8 million in cash into Lenus.

Lenus is first planning to conduct an open study to attract big pharma, which has expressed ongoing interest in the product. The Phase 3 trial is then expected to enroll approximately 200 subjects around the world, including in the U.S. EB is a rare genetic disease that most often appears in the skin, although it can also affect internal organs. There are currently no medications approved for the treatment of EB.

RGN-137, a topical gel initially developed by RegeneRx Biopharmaceuticals Inc.