Business
China licence agreement for Feraccru/Accrufer
China licence agreement for Feraccru/Accrufer.
About this update from Shield Therapeutics Plc
[{"type":"text","content":"\n \nRNS Number : 0727Z Shield Therapeutics PLC 08 January 2020 \n\nThe information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. \n \nShield Therapeutics plc\n(\"Shield\" or the \"Group\")\n \nLicence agreement secured in China for Feraccru®/Accrufer® \n \nExclusive licence agreement with Beijing Aosaikang Pharmaceutical Co. Ltd for the development and commercialisation of Feraccru®/Accrufer® in China \n \nDeal Highlights:\n· US$11.4 million upfront licence payment to Shield\n· Up to US$51.4 million in development and sales milestones\n· Ongoing tiered double-digit royalties on net sales payable to Shield\n· ASK Pharm to be responsible for, and cover costs of, all development and regulatory activity\n \nLondon, UK, 8 January 2020: Shield Therapeutics plc (LSE: STX), a commercial stage, pharmaceutical company with a focus on addressing iron deficiency, announces that it has entered into an exclusive licence agreement for its lead product Feraccru®/Accrufer® (ferric maltol) with Beijing Aosaikang Pharmaceutical Co. Ltd (\"ASK Pharm\") in China, Hong Kong, Macau and Taiwan (the \"Territory\"). Alongside the financial terms of the licence, the agreement sees ASK Pharm undertaking and paying for all activities to achieve marketing authorisation and then commercialising Feraccru®/Accrufer® in the Territory.\n \nShield will receive an upfront payment of US$11.4 million and is eligible to receive a further US$11.4 million upon regulatory approval of Feraccru®/Accrufer® in China. Shield will also receive up to US$40 million in milestone payments upon the achievement of specified cumulative sales targets. For the duration of the intellectual property in the Territory, Shield will receive tiered ongoing royalties of 10% or 15% of net sales of Feraccru®/Accrufer®. ASK Pharm will be responsible for all clinical and regulatory costs and activities as well as all manufacturing and distribution costs of goods sold in the Territory.\n \nBased in Nanjing...