China-based Shandong Xinhua Pharmaceutical Co., Ltd (HKG: 0719) has signed a technology transfer agreement with the Institute of Materia Medica (IMM) of the Chinese Academy of Medical Science (CAMS) regarding LXH-2201. LXH-2201 is a Category 1 drug being developed to treat cardiovascular diseases and has completed both pre-clinical and Phase I clinical studies.
Agreement Details
Under the agreement, Xinhua will pay IMM RMB 100 million (USD 14.93 million), which includes a technology transfer fee and post-marketing sales commissions. IMM will exclusively transfer the technical ownership of the LXH-2201 project, along with the patent rights, patent application rights, post-development rights related to the project, product approval and marketing rights, and production and sales rights (for both domestic and international markets) to Xinhua.-Fineline Info & Tech
