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Lee's Pharma to Potentially Develop Three Peptide Drugs in China

Mar. 26, 2012

March 27, 2012. RegeneRx Biopharmaceuticals has signed a term sheet with Lee’s Pharmaceutical for the license of three Phase II thymosin beta 4-based products in China, Hong Kong, and Macau. The agreement covers peptide therapeutics RGN-259, RGN-352, and RGN-137, which are being developed for eye, cardiovascular, and skin diseases.
Lee’s will pay RegeneRx $200,000 upon signing of the term sheet and an additional $200,000 upon signing of the definitive license agreement, which RegeneRx expects to occur within 30–60 days. The deal also includes aggregate milestone payments of up to $3.6 million and royalties. Lee’s will pay for all developmental costs associated with each product candidate.