Jul. 8, 2015
On Jul 8, 2015 Resverlogix Corp. announced that it had closed a license agreement with Shenzhen Hepalink Pharmaceutical Co., Ltd.
Under the license agreement, Resverlogix will be eligible to receive sales-based milestone payments from Hepalink, each ranging fromUS$5 million to US$90 million, provided its RVX-208 will reach certain annual sales milestones in China, Hong Kong and Macau. In addition, Hepalink will pay Resverlogix a royalty in the amount of 6% of net sales for the drug in these territories, subject to certain adjustments.
It was agreed that Hepalink will be responsible for all clinical and development costs, including a patient population that will be included in Resverlogix's planned Phase 3 BETonMACE trial.
The companies also announced the closing of a $50 million dollar private placement investment in Resverlogix, made by Hepalink and Eastern Capital.