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CSPC Pharma Out-Licenses Western Rights for Cancer Drug to Dexcel

May. 12, 2014

The CSPC Pharmaceutical Group, headquartered in China's Hebei Province,  has partnered with the Israeli firm Dexcel Pharma to co-develop and commercialize a generic oncology drug in the US, Europe and elsewhere.

According to the agreement, Dexcel will pay CSPC $2 million to cover the pre-clinical and cGMP compliance certification costs. In addition to paying up to $5 million in milestones, Dexcel will also be responsible for obtaining approvals for the product outside China and to pay CSPC royalties for sales therefrom.