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Resverlogix Closes License Agreement and Enters Into Definitive Stock Purchase Agreement with Hepalink

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.