Rockwell Medical Inc. announced that its partner in South Korea, Jeil Pharmaceutical Co. Ltd. (“Jeil”), has received regulatory approval by the Ministry of Food and Drug Safety (MFDS) of the Republic of Korea for Triferic Injection (ferric pyrophosphate citrate sodium sulfate co-precipitate hydrate injection) marketed in the United States as Triferic AVNU (ferric pyrophosphate citrate injection) for iron supplementation therapy and maintaining hemoglobin in adult patients with hemodialysis-dependent chronic kidney disease. Rockwell Medical has an exclusive license agreement with Jeil for the rights to commercialize Triferic in South Korea.

Under the terms of the license agreement, Jeil is the exclusive development and commercialization partner for Triferic in South Korea. Rockwell Medical will supply the product to Jeil. In consideration for the license, Rockwell Medical has received an upfront fee and will be eligible for milestone payments and royalties on net sales.

Product sales are anticipated to begin in June/July of 2022.