Haisco Grants Licensing Rights to US-Based Sentivera for Anti-Inflammatory Drug

MT Newswires Live08-26

Haisco Pharmaceutical (SHE:002653) granted exclusive licensing rights to US-based Sentivera Therapeutics to develop and commercialize the Chinese-listed drug company's independently developed preclinical innovative drug for inflammatory diseases globally, excluding mainland China, Hong Kong, Macau, and Taiwan.

The total licensing deal will reach more than $1.5 billion, with Sentivera paying Haiso an upfront consideration of $75.9 million, comprising $40 million in cash and nearly 12 million shares in Sentivera for $35.9 million, or a 17.5% equity, according to a Wednesday filing with the Shenzhen bourse.

The amount also consists of up to $1.46 billion in development, regulatory, and commercial milestone payments and royalties on post-launch net sales of mid-single-digit to low-double-digit levels, Haisco said.

Company shares rose 2% during afternoon trading on Wednesday.

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