Shenzhen Royal Asset to Pay $33 Million for Fibrosis Candidates from Prometic

Shenzhen Royal Asset Management (SRAM) will pay $33 million for China rights to three candidates aimed at fibrosis from Montreal's Prometic Life Sciences. SRAM will also own a 25% share in Prometic ChinaCo, a new JV that will manufacture the API for China use of the three molecules. SRAM will pay a royalty on China revenues to the JV and be responsible for China development of the in-licensed drugs, focusing initially on pulmonary and liver fibrosis. Prometic will use the $33 million for ex-China clinical trials of the three candidates. More details.... Stock Symbols: (TSX: PLI; OTCQX: PFSCF) Share this with colleagues: // //