Fohong Hanlin (02696.HK) announced that it entered into a binding agreement with Accord Healthcare Inc., to grant Accord a license to Accord for the development and commercialization of HLX02 trastuzumab for injection in the United States and Canada for 10 years from the first commercialization of sale.
Total permitted initial payment of US$27 million, regulatory milestone payments not exceeding US$13 million, and commercial sales milestones of US$25 million after commercialization of licensed products in the region. Accord will also pay the Company a tiered royalage fee of 18% to 50% of the net profit of licensed products based on the level of the net profit of the licensed products. (gc/u) ~
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