Sino Biopharma Unit Enters License, Supply Contract for Cancer Drug

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Sino Biopharmaceutical (HKG:1177) unit Chia Tai Tianqing Pharmaceutical Group entered into an exclusive license and supply agreement with Cipla for cancer drug TQB2102.

The group will grant Cipla an exclusive licence to develop and commercialize TQB2102 in India, South Africa, and five other emerging markets, according to a Monday Hong Kong bourse filing.

Cipla will be responsible for local clinical development, regulatory activities, and commercialization, while Chia Tai Tianqing Pharmaceutical will continue to manufacture and supply the drug.

The group will receive an upfront payment, and is eligible for potential development, regulatory, and sales milestone payments of up to $123 million, as well as tiered double-digit royalties.

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