Fosun Pharmaceutical Signs Deal With Neuracle to Buy Alzheimer's Drug Rights

MT Newswires Live

07/29

Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196), through unit Fosun Pharma Industrial, entered into a license agreement with neuroscience research company Neuracle for Alzheimer's drug AR1001, according to a Shanghai bourse on Tuesday.

The Chinese pharmaceutical company will obtain the rights to develop, register, manufacture, and market the drug within the mainland, Hong Kong, and Macau.

Fosun will pay up to 150 million yuan, which includes an upfront payment of 40 million yuan and regulatory milestones of up to 110 million yuan.

The company's Shanghai and Hong Kong shares both rose 2% during late morning trade.

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