Under the licensing pact, Allecra Therapeutics is entitled to receive an upfront cash payment and additional development and commercial milestone payments for an overall deal of USD 78 million
European clinical-stage biopharmaceutical company-Allecra Therapeutics has recently announced that the company has inked an exclusive licensing agreement with a novel division of Yangtze River Pharmaceutical Group, Shanghai Haini Pharmaceutical for the development and commercialization of cefepime/enmetazobactam within the territory of Greater China including Hong Kong, Macau, Taiwan, and Mainland China.
Under the terms of the agreement, Shanghai Haini would be responsible for producing, development, and commercialization of the antibiotic compound within the licensed regions. While on the other hand, Allecra, subject to all the terms and conditions as set in the Exclusive Licensing Agreement, would receive a cash payment at signing while also being eligible to receive further sales and development milestones for cefepime/enmetazobactam under an overall deal of USD 78 million.
Furthermore, it has been reported that the consummation of the licensing treaty is subject to regulatory approval and other customary conditions.
Commenting on this novel move, Mr. Iain Buchanan, a Member of Supervisory Board at Allecra Therapeutics- reportedly cited that the company is delighted to have inked the licensing agreement with Shanghai Haini owing to their prestige as one of the top pharmaceutical firms in China.
He added that with its superior experience and exceptional development and commercialization capabilities, Shanghai Haini stands to be an ideal partner to optimize the opportunity for cefepime/enmetazobactam across the region of Greater China.
On the other hand, General Manager of Shanghai Haini, Mr. Tan Pengfei, quoted that the firm is pleased to in-license cefepime/enmetazobactam commercialization and advance its development for the territory.
He added that this therapeutic compound would serve as a welcome addition to the tools that medical experts have to help their patients, and the company is looking forward to unveiling this antibiotic to the healthcare settings to achieve a win-win collaboration.
Source Credit: https://www.globenewswire.com/news-release/2020/12/21/2148319/0/en/Allecra-Therapeutics-and-Shanghai-Haini-Pharmaceutical-Announce-Exclusive-Licensing-Agreement-for-Cefepime-enmetazobactam-for-Greater-China.html