China-based China NT Pharma Group Company Ltd (HKG: 1011) has announced a licensing agreement with US firm Abcentra LLC. Under the terms, its subsidiary Green-Life Technology (Hong Kong) Co., Ltd will gain exclusive, permanent commercial rights to NT Pharma’s monoclonal antibody orticumab for Greater China, Singapore, Malaysia, and Thailand. Orticumab, a fully-human mAb targeting oxidized LDL, is in Phase II trials for conditions like cardiovascular inflammation, psoriasis, and rheumatoid arthritis.
Financial Terms
NT Pharma will pay Abcentra a $2 million upfront fee, $22 million in milestones, and 10% royalties on future sales. Additionally, NT Pharma will issue 473,186,591 shares at HKD 0.20 ($0.025) each for consulting services.
JV Plans
NT Pharma agreed to form a joint venture with the municipal government in April. The JV, set to become a subsidiary, will focus on R&D, manufacturing, and services. The government will provide land, RMB 200 million ($29.7 million) for facilities, and invest RMB 300 million ($44.6 million) for a 15% stake. As of the announcement, no formal agreements related to the JV have been signed.-Fineline Info & Tech
