Aug. 25, 2017
Germany-based Mologen AG announced on Aug. 25, 2017 the signing of a binding term sheet with iPharma, a China-based drug development company. The collaboration will consist of an exclusive license to iPharma for the development, manufacturing and commercialization of Mologen’s lead compound, lefitolimod, in oncology in Greater China. Mologen and iPharma will share the economic returns from this joint development pursuant to both parties’ contributions.
Under the contemplated agreement, Mologen would receive an upfront payment of EUR 3 million, milestone payments as well as royalties and an equity investment of EUR 2 million.
All costs relating to development, registration, marketing and commercialization of lefitolimod in Greater China would be covered by iPharma.