CHESTERBROOK, PA — Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company, announced that it has received a $3 million milestone payment from its partner in China for the Chinese approval of OLINVYK. Jiangsu Nhwa Pharmaceutical Co. Ltd. (Nhwa) holds an exclusive license agreement to develop, manufacture, and commercialize OLINVYK in China.
“We look forward to continuing to work closely to support Nhwa in their commercial efforts. They have already begun commercial efforts in China and we are excited to see OLINVYK made available in such an important market,” said Carrie Bourdow, President and CEO of Trevena, Inc.
The Company also reaffirmed the expected receipt of $15 million in non-dilutive financing from R-Bridge upon the first commercial sale of OLINVYK in China, which Nhwa believes will occur in 3Q 3023.