Fosun Pharma's self-developed immunomodulatory small molecule inhibitors have been authorized for overseas development.
Recently, Fosun Pharma announced that its holding subsidiary, Shanghai Fosun Pharmaceutical Industrial Development Co., Ltd., has reached a "license agreement" with the British biotechnology company Sitala Bio Ltd, which focuses on the research and development of innovative drugs in the field of inflammation and autoimmune diseases. The agreement grants Sitala the rights to develop, manufacture, and commercialize small molecule inhibitor FXS6837 and products containing this active ingredient globally, including for the diagnosis and treatment of human and animal diseases. Fosun Pharmaceutical Industrial Development will retain the rights to develop, manufacture, and commercialize FXS6837 in mainland China, Hong Kong, Macau, and Taiwan. Under the license agreement, Sitala will pay Fosun Pharmaceutical Industrial Development up to $190 million in non-refundable upfront payments, development and commercialization milestone payments, and in addition, Fosun Pharmaceutical Industrial Development can obtain Sitala's shares worth $5 million for no consideration. In the future, based on the annual net sales of the licensed products in the licensed territories, Sitala will pay Fosun Pharmaceutical Industrial Development up to $480 million in sales milestone payments as agreed.
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