By Fineline Cube China-based China NT Pharma Group Company Ltd (HKG: 1011) has announced a potential acquisition agreement with an undisclosed US firm. Under the terms of the agreement, its wholly owned subsidiary, Green-Life Technology (Hong Kong) Co., Ltd, will obtain exclusive and permanent commercial licensing rights to several monoclonal antibodies (mAbs) for Greater China (including mainland China, Hong Kong, Macau, and Taiwan), Singapore, Malaysia, and Thailand. The technology, currently at the Phase II trial stage, is being developed to treat multiple diseases.
Licensing and Cooperation Agreement
One of the prerequisites of the licensing and cooperation agreement is the establishment of a consultancy agreement between NT Pharma, the licensee, and the consultant. As part of the deal, NT Pharma shall allot and issue new shares to the consultant as consideration for providing consultancy services for the commercialization of certain monoclonal antibody products. The consultant will lead the research and development of the technology and is responsible for submitting the clinical application of the technology to the relevant regulatory bodies.
Joint Venture Framework
NT Pharma entered into a framework agreement with the municipal government to set up a joint venture (JV) in April this year. The JV, expected to become a subsidiary of NT Pharma, will be a comprehensive biotech company focused on research and development, manufacturing, marketing, and services. However, as of the announcement date, NT Pharma has not signed any formal agreements related to the acquisition, sales, or establishment of the JV.-Fineline Info & Tech