China-based Shaanxi Panlong Pharmaceutical Group Co., Ltd (SHE: 002864) announced a technology commission (development) agreement with compatriot firm Chongqing Porton Pharma Solutions, a contract development and manufacturing organization (CDMO) that will complete technical development, raw material research, process research, quality research, pharmacodynamics and toxicology research, clinical study, production, and regulatory and filings for the former’s PLJT-001 and PLJT-002. The technology development fee, to be paid in installments, totals RMB 50 million (USD 7.1 million).
Intellectual Property and Ownership
All intellectual property rights will be exclusively held by Panlong Pharma, who owns the ownership of the technical achievements of the research project and the intellectual property rights of all relevant work contents and achievements, including but not limited to the patent application right, the right to use and transfer the technical achievements, and the exclusive ownership of the technical secrets.-Fineline Info & Tech
