ProMetic Signs Up Allist for China Development of Two Drug Candidates

ProMetic Life Sciences of Canada has enlisted Shanghai Allist Pharma to develop and commercialize two of ProMetic's drug candidates in China. Allist will fund the costs to develop the products for SFDA approval, meeting US FDA standards in the studies, allowing ProMetric to use Allist’s work for approval in ex-China markets. ProMetic expects Allist to spend more than $10 million to complete this project. Allist will have exclusive rights to the products in China. More details.... Stock Symbol: (TSX: PLI)