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Connect Biopharma Holdings Limited (NASDAQ:CNTB) ("Connect Biopharma" or the "Company"), a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients with chronic inflammatory diseases through the development of therapies derived from T cell-driven research, announced today that two of its wholly owned subsidiaries, Connect Biopharma Hong Kong Limited and Suzhou Connect Biopharma Co., Ltd., have entered into an exclusive license and collaboration agreement with Simcere Pharmaceutical Co., Ltd., a subsidiary of Simcere Pharmaceutical Group Ltd. ("Simcere"), to develop and commercialize Connect Biopharma's rademikibart in Greater China.
According to the terms of the agreement, Connect Biopharma will receive a ¥150 million RMB (US$ 21 million) upfront payment, up to ¥875 million RMB (US$ 120 million) upon achieving certain development and commercial milestones, in addition to royalties up to low double-digit percentages of net sales.
Posted In: CNTB
