Bio-Thera Solutions Licenses Cancer Drug Candidate to Saudi Arabia's Avalon Pharma

MT Newswires Live

02/04

Bio-Thera Solutions (SHA:688177) signed a deal granting Saudi Arabia's Avalon Pharma exclusive rights to commercialize its BAT3306 (pembrolizumab) for injection across the Middle East and North Africa.

The agreement includes an upfront payment of $2 million, milestone payments of up to $5 million tied to development progress and a double-digit percentage of future net sales, according to a Wednesday filing with the Shanghai bourse.

The deal covers a 15-year initial term with an automatic two-year renewal.

Pembrolizumab is a humanized monoclonal antibody drug used to treat cancer.

Shares of the pharmaceutical company closed 1% higher Wednesday.

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