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Alamab Purchases Rights for two Experimental Drugs paying $4.5 million upfront

Jun. 23, 2017

AlaMab Therapeutics, a subsidiary of the China-based CSPC Pharmaceutical Group is licensing two experimental drugs from two University of Texas research institutions for an initial $4.5 million upfront payment. The Texas institutions could receive more money if the drugs meet clinical and regulatory goals.

One of the preclinical compounds being licensed aims to suppress damage after a spinal cord injury while the other is targeting breast cancer metastasis to the bone.

In addition to the upfront payment, AlaMab may pay additional $114 million in royalty payments and subject to meeting certain commercial milestones.