Shanghai Henlius Biotech Inc., (HKG: 2696), a leading biopharmaceutical company based in China, has announced the revision of a cooperation and licensing agreement initially signed with Palleon Pharmaceuticals Inc. in June 2022. The original agreement was centered around the development of a bifunctional anti-HER2 antibody-sialidase fusion protein and a second undisclosed bifunctional antibody-sialidase. Under the revised terms, the anti-HER2 molecule is no longer part of the agreement. Henlius had already made an upfront payment of USD 4 million to Palleon and will not be required to make any additional payments for that molecule. The terms for the second product remain unchanged.
The revision also introduces a new scope of collaboration where Henlius and Palleon will jointly advance the development of a tumor-targeted sialidase bifunctional fusion protein. This includes research and development, global development and manufacturing, as well as payment and royalty structures that will be consistent with those of the second product. Furthermore, early R&D and pre-clinical expenses for both products will be equally shared between the two companies, deviating from the original agreement where Henlius was solely responsible for these costs.- Flcube.com
