China-based Shanghai Henlius Biotech (HKG: 2696) has entered into an agreement to provide clinical study research and development (R&D) services for the COVID-19 therapy azvudine to compatriot firms HeNan Genuine Biotech Co., Ltd and Shanghai Fosun Pharmaceutical Development Co., Ltd. The services will focus on COVID-19 prevention and include clinical protocol design and management.
Agreement Details
Under the terms of the agreement, Genuine Bio and Fosun Pharmaceutical Development will pay 40% and 60% of the total service fee to Henlius, respectively, within 60 days after receiving and confirming the relevant settlement sheet and invoice. The agreement also stipulates that the maximum service fees paid by Fosun Pharmaceutical Development to Henlius within one year and one month after the agreement comes into force shall not exceed RMB 30 million (USD 4.18 million).
Duration and Renewal
The agreement, effective as of the signing date, will expire after one year. If the agreed services have not been completed after the expiration, the parties shall negotiate in advance and sign a renewal agreement to continue the collaboration.-Fineline Info & Tech
