Chongqing Lummy Pharma In-licenses China Rights to Cancer Immunotherapy in $40 Million Deal

Chongqing Lummy Pharma in-licensed greater China rights to Arcelis®, a cancer immunotherapy platform developed by Argos Therapeutics of North Carolina. Yesterday, Lummy announced it had invested in a $50 million China Fund with TVM Capital for in-licensing, and today the company followed up with a deal that will consume a large part of the funds. The agreement calls for an upfront purchase of $10 million worth of Argos stock by Lummy and the TVM-sponsored China BioPharma Capital I Fund and provides for an additional $30 million in milestone payments. More details..... Stock Symbols: (SHZ: 300006) (NSDQ: ARGS) Share this with colleagues: // //