Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196) subsidiary Fosun Pharma Industrial signed an exclusive option agreement with South Korea's AriBio for AR1001, an oral drug candidate for early Alzheimer's disease.
The unit will pay a $60 million option fee and can exercise the license within 90 days after receiving topline data from an ongoing global Phase III trial.
If exercised, Fosun Pharma Industrial will pay up to $180 million in upfront and regulatory milestones, plus tiered royalties.
Shares of Shanghai Fosun Pharmaceutical were down 1% in recent trade on the Shanghai and Hong Kong bourses.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments