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SINO BIOPHARM's Subsidiary Enters Exclusive Licensing Deal with Sanofi for Rovadicitinib
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SINO BIOPHARM (01177.HK) announced that its subsidiary, Chia Tai Tianqing Pharmaceutical, had entered into an exclusive license agreement with a fully-owned subsidiary of Sanofi S.A. for the global development, manufacturing, and commercialization of SINO BIOPHARM's JAK/ROCK inhibitor, rovadicitinib. Subject to the terms and conditions of the agreement, SINO BIOPHARM will grant Sanofi an exclusive global license to develop, manufacture, and commercialize rovadicitinib. In return, SINO BIOPHARM is eligible to receive an upfront payment of USD135 million plus potential development, regulatory, and sales milestone payments of up to USD1.395 billion, as well as up to double-digit tiered royalties based on the annual net sales of rovadicitinib. The effectiveness of the agreement is subject to customary closing conditions, including regulatory clearances. AAStocks Financial News |
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