AffaMed, Hanmi enter agreement for risuteganib in Greater China
AffaMed Therapeutics and Hanmi Pharmaceutical have entered into a licensing agreement granting AffaMed exclusive rights to develop and commercialize risuteganib in Greater China, according to a press release.
Through the agreement, AffaMed will pay Hanmi $145 million for the right to manufacture, develop and commercialize risuteganib for intermediate dry age-related macular degeneration in mainland China, Hong Kong, Taiwan and Macau, the release said. The payment includes a $6 million upfront licensing fee. Hanmi will also be eligible for royalties depending on net sales.
“We are excited to partner with Hanmi to accelerate the development and commercialization of risuteganib (Luminate) in intermediate dry AMD patients and bring this innovative treatment option to millions of patients in Greater China,” Dayao Zhao, MD, PhD, CEO of AffaMed, said in the release.