China’s Chongqing Lummy Pharmaceutical Co., Ltd (SHE: 300006) announced the termination of its strategic partnership with Wuhan YZY Biopharma Co., Ltd, originally signed in September 2020. The deal granted Lummy exclusive priority sales rights to YZY Bio’s Y400, a bispecific antibody (BsAb) targeting VEGFA and ANG2, in Greater China. YZY Bio will now commercially partner with an undisclosed pharma firm for the eye drug.
Compensation and New Agreement
YZY Bio will compensate Lummy Pharma with 20% of the Y400 sales milestone payment and grant priority sales rights in China to another mutually recognized product. Both parties agreed that if Y400’s market filing is accepted in the future and YZY Bio has not formalized a Y400 transfer deal with the new partner or any third party, or fails to reach an agreement within six months post-cooperation termination, YZY Bio will reinstate Lummy Pharma’s preferential sales rights to Y400 in China under identical terms.-Fineline Info & Tech
