Connect Biopharma Strikes Deal with Simcere for Rademikibart in China, With Potential $141M Payout
Portfolio Pulse from Benzinga Newsdesk
Connect Biopharma Holdings Limited (NASDAQ:CNTB) has entered into an exclusive license and collaboration agreement with Simcere Pharmaceutical Co., Ltd. to develop and commercialize rademikibart in Greater China. The deal includes a ¥150 million RMB upfront payment to Connect Biopharma, up to ¥875 million RMB in milestone payments, and royalties on net sales.
November 21, 2023 | 11:06 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Connect Biopharma's deal with Simcere could provide significant financial benefits, including an upfront payment of $21 million, milestone payments up to $120 million, and royalties, which may positively impact the company's revenue and funding for further development.
The agreement with Simcere provides Connect Biopharma with immediate upfront cash, which is beneficial for the company's cash flow and can support ongoing research and development. The potential milestone payments and royalties represent significant future revenue streams. This news is likely to be viewed positively by investors, as it not only validates Connect Biopharma's research but also provides financial stability and growth potential.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100