Meditech Grants Rights to Anti-Herpes Drug

Meditech Pharmaceuticals Inc., an Encino drug company, said in a filing with the Securities and Exchange Commission that it has agreed to grant a Japanese pharmaceutical company exclusive Japanese rights for Meditech’s anti-herpes drug, MTCH-24, while the foreign concern conducts human clinical trials on the drug. A payment of $50,000 has been made to Meditech by the Japanese company, Sato Pharmaceutical Co., in connection with the agreement, the SEC filing said.

The clinical trials are due to be completed by Dec. 31. Meditech said it also hopes to complete a post-trial licensing agreement with the Japanese firm.

Meanwhile, Meditech said its other anti-herpes drug, Viraplex, has been referred to the National Cancer Institute’s biological evaluation committee for consideration as an ovarian cancer treatment.