Huahai Pharmaceutical's Subsidiary Huaota Biopharma Enters Global Research Collaboration and Licensing Agreement with Almirall for Novel Monoclonal Antibody Candidate

Source: Securities Times

People's Finance News, March 27thHuahai Pharmaceutical(600521) Announcement on March 27, Huahai Pharmaceutical Co., Ltd.'s subsidiary Shanghai Huaota Biopharmaceutical Co., Ltd.Huaota BiopharmaceuticalShanghai Huaota Biopharmaceutical Co., Ltd. ("Huaota") and Almirall, S.A. ("ALM") have reached a global research collaboration and licensing agreement to develop a monoclonal antibody candidate targeting a new target with multiple potential indications, including medical dermatology.

According to the agreement, Huaota has the rights to develop and commercialize projects and products in China, while ALM holds the rights for global development and commercialization outside of China. Leveraging its innovative R&D platform, Huaota will conduct relevant research until obtaining a molecule with clinical proof-of-concept. ALM will pay Huaota an upfront payment, development and commercialization milestone payments totaling no more than $340 million, along with corresponding tiered royalties.