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CSPC PHARMA Forges Exclusive License Deal w/ Madrigal for SYH2086, Entitled to Receive Max. USD2.075B in Total
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CSPC PHARMA (01093.HK) announced that it had entered into an exclusive license agreement with Madrigal (MDGL.US) for the global development, manufacturing, and commercialization of the group's oral small molecule glucagon-like peptide-1 (GLP-1) receptor agonist, SYH2086. Under the terms of the agreement, the group agreed to grant Madrigal an exclusive license to develop, manufacture, and commercialize SYH2086 worldwide, while retaining its right to develop and commercialize other orally administered small-molecule GLP-1 receptor agonist products in China. The group is eligible to receive a total consideration of up to USD2.075 billion, including an upfront payment of USD120 million plus potential development, regulatory, and commercial milestone payments of up to USD1.955 billion, and up to double-digit royalties based on the annual net sales of SYH2086. AAStocks Financial News |
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