Sino Biopharmaceutical (HK:1177) has released an update.
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Sino Biopharmaceutical, through its subsidiary Chia Tai Tianqing, has entered an exclusive license and cooperation agreement with YZY Biopharma for the drug M701, aimed at treating malignant pleural effusion and malignant ascites, currently in Phase III trials. The deal involves an upfront and milestone payment of RMB 315 million, sales milestones up to RMB 700 million, and royalties on net sales. M701, which shows promise over current treatments, could become a standard solution for these conditions, with potential peak sales exceeding RMB 2 billion.
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